Question

A bicycle is marked at 1,500 and is sold for 1,350. What is the percentage of discount?

Answer 1

Hint:
Here, we will subtract the selling price from the marked price to know the value of the discount provided. Since the discount is provided on the marked price, we will find the percentage of discount with respect to it using the formula to get the required answer.

Formula Used:
We will use the following formulas:
Discount \[ = M.P. - S.P.\]
Discount Percentage \[ = \] (Discount \[ \div \] Marked Price) \[ \times \] 100

Complete step by step solution:
According to the question,
Marked Price of the bicycle, \[M.P. = {\rm{Rs}}1,500\]
Selling Price of the bicycle, \[S.P. = {\rm{Rs}}1,350\]
Now, we know that discount is the difference between the marked price and the selling price.
Hence, Discount \[ = M.P. - S.P.\]
Substituting the values in the above formula, we get
\[ \Rightarrow \] Discount \[ = 1500 - 1350 = {\rm{Rs}}150\]
But, we are required to show the discount percentage.
The discount is always given on Marked Price and when we have to find a percentage, we multiply the given fraction by 100, hence, the formula for discount percentage on marked price is:
Discount Percentage \[ = \] (Discount \[ \div \] Marked Price) \[ \times \] 100
Substituting the values of discount and marked price in the above formula, we get
Discount Percentage \[ = \dfrac{{150}}{{1500}} \times 100\]
Multiplying the terms, we get
\[ \Rightarrow \] Discount Percentage \[ = 10\% \]

Therefore, the required percentage of discount is \[10\% \].
Hence, this is the required answer.

Note:
The price by which an article has been labeled is known as the Marked Price. It shows that the seller intends to sell that specific product at this price. But, usually, some discount is given on the Marked Price and it is sold finally to the customer at the Selling Price. Hence, to find the discount provided, we subtract the Selling Price from the Marked Price and hence, get the required Discount.