If a product is marked at $500 and sold at a discount of 10%, what is the sellin

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Question: If a product is marked at $500 and sold at a discount of 10%, what is the selling price?

Options:

Correct Answer: $475

Solution:

Selling Price = Marked Price - Discount = 500 - (10% of 500) = 500 - 50 = $450.

If a product is marked at $500 and sold at a discount of 10%, what is the selling price?

If a product is marked at $500 and sold at a discount of 10%, what is the selling price?

Step 1: Identify the marked price of the product, which is $500.
Step 2: Determine the discount percentage, which is 10%.
Step 3: Calculate the amount of the discount by finding 10% of $500. This is done by multiplying 500 by 0.10.
Step 4: Perform the multiplication: 500 * 0.10 = $50. This is the discount amount.
Step 5: Subtract the discount amount from the marked price to find the selling price. This is done by calculating 500 - 50.
Step 6: Perform the subtraction: 500 - 50 = $450. This is the selling price.

Percentage Calculation – Understanding how to calculate a percentage of a given amount and apply it to find the discount.
Basic Arithmetic – Performing subtraction to find the final selling price after applying the discount.