Friday, April 10, 2009

Question on Calculating Discount Rate on a Price of a Material

Topic : Sales and Discounts

Question : Melaine bought a book that was on sale for $19.99 the retail price of the book is 24.99 which of the following is the best estimate of the percent discount?

Solution :
Retail Price = 24.99
New Price = 19.99

Discount = 24.99 - 19.99 = $ 5
Discount Percent = discount/retail * 100
= 5/24.99 *100
= 500/24.99
= 20.008
= 20%

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