Question

Find the discount in percent when Marketing price is $Rs\,500$ and Selling price is $Rs\,425$.

Answer 1

Hint: The given question revolves around the concepts of profit and loss. In the given question, we have to find the discount percentage when we are given the market price and selling price of the product. It requires us to find how much percentage is a number of a given number.

Complete step by step solution:
Let’s consider the given problem.
The market price of the product is $Rs\,500$.
The selling price of the product is $Rs\,425$.
The discount on the product can be calculated by evaluating the difference between the market price and the selling price of the product.
So, discount on the product $ = M.P. - S.P.$
$ = Rs\,500 - \,Rs\,425$
$ = Rs\,75$
Now, we have to find the discount percentage in this situation. So, we have to calculate what percent of the market price $Rs\,500$ corresponds to the discount of $Rs\,75$.
So, to find the discount percent on the product, we adopt the formula $Discount\% = \dfrac{{Discount}}{{M.P.}} \times 100\% $.
So, we get the discount percent as $\dfrac{{Rs\,75}}{{Rs\,500}} \times 100\% $
$ \Rightarrow \dfrac{{\,75}}{{\,5}}\% $
Carrying out the calculations and simplifying the expression, we get,
$ \Rightarrow 15\% $
Hence, discount in percent when Marketing price is $Rs\,500$ and Selling price is $Rs\,425$ is $15\% $.

Note:
It is better to workout with the above-mentioned method and after solving the number of problems in this model, one can build up speed in solving such questions along with a good accuracy. Work as many problems as possible to crack these types of problems in a limited time period. Such questions require accuracy in arithmetic.