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Find the discount percent, when (1) M.P= Rs1400 and S.P= Rs1274.

Last updated date: 22nd Mar 2023
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Hint: The market price and the selling price of a vendor is given in the question, simply use the direct formula for discount percentage to calculate the discount percentage provided by the vendor to the consumer.

Complete step by step solution:
The market price given in the question M.P = Rs1400
The selling price that is the price at which the vendor is selling the item to the customer is given in question S.P= Rs1274.
Now Discount given is the difference between the market price and the selling price.
$ \Rightarrow $Discount = M.P - S.P…………………… (1)
Putting values in equation (1) we get
Discount = 1400-1274
$ \Rightarrow $Discount = 126Rs
Now Percentage(x) =$\dfrac{x}{{total}} \times 100$                                (Generalized formula)
Thus Discount percentage = $\begin{gathered}
$  \dfrac{{{\text{Discount}}}}{{M.P}} \times 100 $
Substituting the values we get
Discount % = $\dfrac{{126}}{{1400}} \times 100$
On solving we get discount % = 9 %

Note: Whenever we face such types of problems the key concept to remember is that the discount provided by a vendor or a businessman to his customers is always the difference between the market price and the selling price, thus extending this similar concept we can easily find the discount percentage.