If a product is marked at $500 and sold at a discount of 20%, what is the sellin

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Question: If a product is marked at $500 and sold at a discount of 20%, what is the selling price?

Options:

Correct Answer: $450

Solution:

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

If a product is marked at $500 and sold at a discount of 20%, what is the selling price?

If a product is marked at $500 and sold at a discount of 20%, 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 20%.
Step 3: Calculate the amount of the discount by finding 20% of $500. This is done by multiplying 500 by 0.20.
Step 4: Perform the multiplication: 500 * 0.20 = $100. This is the discount amount.
Step 5: Subtract the discount amount from the marked price to find the selling price. So, $500 - $100 = $400.
Step 6: The final selling price of the product is $400.

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