Question

A trader buys some cameras with printed price Rs. $750$ . If he sells each camera giving \[10\% \] rebate, how much money could a customer have to pay?

Answer 1

Hint:It is given that the printed price of a camera is Rs. $750$. So, this will be the marked price of a camera. Also, \[10\% \] rebate is given i.e., a discount of \[10\% \] is given on a camera. So, deducting the discount amount from the marked price will give us the selling price of a camera, which is the required answer.

Formula used:$SP = MP - MP \times \dfrac{D}{{100}}$

Complete step-by-step answer:
In the question, it is given that the printed price which is basically MRP, of camera is Rs. $750$ .
Therefore, Marked Price \[MP = 750\]
As rebate is another term for discount,
So, rebate given on a camera, $D = 10\% $
Now, the amount paid by the customer will be the selling price \[SP\] of camera, and is given by the formula shown below,
$SP = MP - MP \times \dfrac{D}{{100}}$
$\Rightarrow SP = 750 - 750 \times \dfrac{{10}}{{100}}$
$\Rightarrow SP = 750 - 75$
$\Rightarrow SP = 675$
Hence, the selling price comes out to be Rs. $675$.
Therefore, the money paid by the customer is Rs. $675$.

Note:A rebate is another term for Discount. Do not get confused with this. Also, keep in mind that the statement can vary differently but the very concept of marked price, selling price and discount remains the same. The price on the label of an article is called the marked price. This is the price at which product is intended to be sold. The amount for which the product is sold is called Selling Price. Also, sometimes called a sale price. However, there can be some discount given on this price and the actual selling price of the product may be less than the marked price.