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If a product is marked at $500 and sold for $450, what is the discount percentag

Practice Questions

Q1
If a product is marked at $500 and sold for $450, what is the discount percentage offered? (2023)
  1. 5%
  2. 10%
  3. 15%
  4. 20%

Questions & Step-by-Step Solutions

If a product is marked at $500 and sold for $450, what is the discount percentage offered? (2023)
  • Step 1: Identify the marked price of the product, which is $500.
  • Step 2: Identify the selling price of the product, which is $450.
  • Step 3: Calculate the discount by subtracting the selling price from the marked price: 500 - 450 = 50.
  • Step 4: To find the discount percentage, divide the discount by the marked price: 50 / 500.
  • Step 5: Multiply the result by 100 to convert it to a percentage: (50 / 500) * 100 = 10.
  • Discount Calculation – Understanding how to calculate the discount amount and the discount percentage based on marked and selling prices.
  • Percentage Calculation – Applying the formula for percentage to find the discount percentage from the discount amount.
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