Question

an invoice quotes a price of $620 subject to discounts of 30%, 15% and 5%. what is the selling price?

Answer 1

Given :  an invoice quotes a price of $620 subject to discounts of 30%, 15% and 5%.

To find : what is the selling price

Solution:

Successive discount of  30%, 15% and 5%.

Selling price =  620 (1 - 30/100)(1 - 15/100)(1  - 5/100)

= 620 (0.7)(0.85)(0.95)

= 350.455 $

selling price = 350.455 $

Detailed Solution :

price = $620

30% discount = (30/100)620  =  186 $

price after discount = 620 - 186  = 434 $

15 % Discount  = (15/100)434 = 65.1$

price after discount = 434 - 65.1 = 368.9$

5% Discount = (5/100)368.9 = 18.455%

final selling Price = 350.455 $

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Answer 2

Given:

Invoice quotes a price = $ 620

The price is then subjected to discounts of 30%, 15% and 5%

To find:

The selling price

Solution:

Method 1:

We know the formula to find the selling is as follows:

$\boxed{Selling \:Price\:=Marked\:Price\:-\:[\frac{Discount}{100}\times Marked\: Price] }$

Here the marked price = $ 620

Using the formula above,

Price after giving 30% discount = $620 - [\frac{30}{100}\times 620] = 620 - 186 = \ \:434$

After the 30% discount, another discount of 15% is given on it

So, Price after giving 15% discount = $434 - [\frac{15}{100}\times 434] = 434 - 65.1 = \ \:368.9$

Lastly, again a discount of 5% is given on it

∴ Price after giving 5% discount

i.e., the final selling price = $368.9 - [\frac{5}{100}\times 368.9] = 368.9 - 18.445 = \ \:350.455$

Rounding off to its nearest cents we get the final answer as, $ 350.46.

Thus, the selling price is $ 350.46.

Method 2: Shortcut method

We have the marked price = $ 620

After subjecting the price to discounts of 30%, 15% & 5%, we get

The selling price is,

$= 620\times [1- \frac{30}{100}]\times[1- \frac{15}{100}]\times[1- \frac{5}{100}] \\= 620\times 0.7\times 0.85\times 0.95\\= \bold{\ \:350.46}$

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