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A seller marks a price of $500 on a product and offers a discount of 20%. What i

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Question: A seller marks a price of $500 on a product and offers a discount of 20%. What is the selling price?

Options:

  1. $400
  2. $450
  3. $350
  4. $300

Correct Answer: $400

Solution: 

Discount = 20% of 500 = 100. Selling Price = Marked Price - Discount = 500 - 100 = 400.

A seller marks a price of $500 on a product and offers a discount of 20%. What i

Practice Questions

Q1
A seller marks a price of $500 on a product and offers a discount of 20%. What is the selling price?
  1. $400
  2. $450
  3. $350
  4. $300

Questions & Step-by-Step Solutions

A seller marks a price of $500 on a product and offers a discount of 20%. What is the selling price?
  • Step 1: Identify the marked price of the product, which is $500.
  • Step 2: Calculate the discount by finding 20% of the marked price. To do this, multiply 500 by 0.20 (which is 20% in decimal form).
  • Step 3: The calculation for the discount is 500 * 0.20 = $100.
  • Step 4: Subtract the discount from the marked price to find the selling price. So, $500 - $100 = $400.
  • Step 5: The final selling price of the product is $400.
  • Percentage Calculation – Understanding how to calculate a percentage of a given amount.
  • Discount Application – Applying the calculated discount to find the final selling price.
  • Basic Arithmetic – Performing subtraction to determine the selling price after discount.
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