Question

An item marked at Rs. 840 is sold for Rs. 714. What is the discount and discount% ?

Answer 1

Hint: The marked and selling prices of an item are given. The difference between the two gives the discount, using this discount percentage can be calculated.
Formulas to be used:
$DP = MP - SP$
$D\% = \dfrac{{DP}}{{MP}} \times 100$
Where, DP, SP and MP are discount, selling and marked prices respectively.

Complete step-by-step answer:
It is given that the item marked at Rs. 840 and is sold for a price of Rs. 714
Marked Price (MP) = Rs. 840
Selling Price (SP) = Rs. 714
The discount price is given by the difference between the two.
Discount price (DP) = Marked Price (MP) - Selling Price (SP)
Substituting the values:
 $
  DP = MP - SP \\
  \Rightarrow DP = 840 - 714 \\
   \Rightarrow DP = Rs.126 \;
  $
Thus, the discount allowed on the item is of Rs. 126.
The formula to calculate the percentage of discount is:
 $ D\% = \dfrac{{DP}}{{MP}} \times 100 $
Substituting the known values to calculate the discount percentage:
 $
  \Rightarrow D\% = \dfrac{{126}}{{840}} \times 100 \\
  \Rightarrow D\% = \dfrac{{1260}}{{84}}\% \\
   \Rightarrow D\% = 15\% \;
  $
Thus, the percentage of discount given on the item is 15%.
Therefore, the discount and the percentage of discount on the given item is Rs. 126 and 15% respectively.
So, the correct answer is “Rs. 126 and 15% ”.

Note: Discount refers to the reduction in cost of an item to the customer and is always calculated on the marked price and not the cost price. As percentage refers to part per hundred, when we convert any fraction to percentage, we multiply it with 100.