7th Class Mathematics Profit, Loss and Discount Discount

Discount

Category : 7th Class

*     Discount

 

In our daily life whenever we go to the market, we see banners & big hoardings indicating discount or sale up to 50 % off or buy one get one free. These are different tacts to attract the customers to the market. Shopkeepers want to get maximum rice for their goods and the customers are willing to pay as less as possible. Shopkeepers also offer different types of rebates in order to increase the sales or to finish old or damaged stock. This types of rebate on the price of article is called discount.  

 

*      Marked Price

The price of an article which is indicated on it is called marked price or list price. In short form, it can be written as M.P. The amount which is to be reduced from marked price is called discount.  

 

*      Concept Related To Discount

  • Selling Price = Marked Price - Discount or discount = M.P. - S.P.
  •  

 

 

 

 

  The marked price of a shirt is Rs 940 & the shopkeeper allows a discount of 15 % on it. Find the selling price of the shirt.

(a) Rs 895                            

(b) Rs 656

(c) Rs 785                                            

(d) Rs 799

(e) None of these  

 

Answer: (d)  

Explanation

M.P. of a shirt = Rs 940, Rate of discount = 15%

Discount =15% of \[Rs940=\frac{15}{100}\times 940=Rs141\]

S.P. of the Shirt = M.P.-Discount = RS 940 - Rs 141=Rs 799  

 

 

The price of a refrigerator is reduced from Rs 9,600 to Rs 8,448 in the winter season. Find the percentage of discount.

(a) 9%                                                  

(b) 1%          

(c) 11%                                                

(d) 12%

(e) None of these  

 

Answer: (d)

Explanation

According to question M.P = RS 9,600 and S.P = Rs 8,448

Since, discount = M.P. - S.P = Rs 9,600 - Rs. 8,448 = Rs 1,152

Rate of discount

 

 

  The shopkeeper marked his good at 20 % above the cost price. He sold half of the stock at the marked price, one quarter at a discount of 20 % and rest at the discount of 40 %. Find the total gain or loss percent.

(a) 2% gain                         

(b) 2 % loss

(c) 15 % gain                      

(d) 16 % loss

(e) None of these

 

Answer: (a)  

 

 

A shopkeeper offers 5 % discount and earns 23.5 % profit. What will have percentage profit earn by the shopkeeper if no discount is offered?

(a) 20%                                                

(b) 25%         

(c) 30%                                                

(d) 28%

(e) None of these

 

Answer: (c)  

 

 

  The price of pure coconut oil is Rs 200 per litre. A shopkeeper adulterates it with some other types of oil at Rs 100 per litre. He sells the mixture at the rate of Rs 192 per litre so that to gain 40 % on whole transaction. The ratio in which he mixed the two oil is:

(a) 1:2                                                  

(b) 3:2

(c) 2:4                                                   

(d) 1:4

(e) None of these

 

Answer: (b)            

 

 

 

 

  • The price at which a shopkeeper purchases an article is called cost price and the price at which shopkeeper sells is called selling price.
  • Profit occurs when selling price is greater than cost price.
  • Loss occurs when selling price is less than cost price.
  • To increase the sell, shopkeepers allow some reduction in price, which is called Discount.  
  • In the case of discount. Selling Price = Marked Price = Discount. Discount.
  • Discount % \[=\frac{Discount}{M.P.}\times 100\]

 

 

 

 

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