Question

a chair having the marked price rupees 500 is sold for rupees 380.The rate of discount is:

Answer 1

Given
MRP=₹500
SP=₹380

Discount =500-380=₹120

Discount rate =discount /mrp x 100

=120/500 x 100

=120/5 =24%

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Answer 2

The required rate of discount is 24%.

Given: Marked Price (MP) and Selling Price (SP) of a chair are ₹500 and ₹380 respectively.

To find: The rate of discount.

Solution:

Before solving the given question, we need to know few terms and they are:

• Marked Price (MP) is also known as the List Price or the Label Price. This is the price at which an article is intended to be sold but not necessarily the price at which it is sold i.e. there can be some discount on it.

• Selling Price (SP) is the price at which an article is sold to the consumer.

Now,

Since we have MP = ₹500 and SP = ₹380.

Therefore,

Discount = MP – SP

= ₹ (500 – 380)

= ₹120

And,

Rate of Discount = (Discount/MP) × 100

= (120/500) × 100

= 24%

Therefore, the rate of discount of a chair having marked price ₹500 and selling price ₹380 is 24%.

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