﻿ Discounts - Definition, Formula & Questions

# Discounts

## Discounts - Sub Topics

• Discount Formula
• Discount Percentage Formula
• Discount refers to a reduction in the original price of a product or service. It is mostly used in consumer transactions, where people are provided with discounts on various products.

The discount rate is provided in percentage (%).

## Discount Formula

According to the definition of the discount, the formula is:

Discount = Marked Price - Selling Price
Selling price = Marked Price - Discount
Marked Price = Selling Price + Discount

### Discount %

Discount percentage in terms of marked price is the percentage by which the marked price of a product or service is reduced to arrive at the selling price. It indicates the amount of reduction from the original price that the customer will receive.

NOTE: Marked price = Listed Price

### Successive Discount

Successive discount means discount on the discount.

Here, we have formula of finding out successive discount on an item.
If the successive discounts d1, d2, and d3 are given on an item, then the selling price of that item is calculated by,

Where, SP is selling price and MP is marked price.

## Quick Video Recap

In this section, you will find interesting and well-explained topic-wise video summary of the topic, perfect for quick revision before your Olympiad exams.

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