If the credit price of 5 copies is equal to the cash price of 6 copies,what is the rate of discount??
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Answer:
16.66%
Step-by-step explanation:
Total credit price of the copied = 5 (Given)
Let the book price with credit = x.
Thus, the total credit price = 5x
Total cash price of the copies = 6 (Given)
Let the book price with cash = y.
Thus, the total cash price = 6Y.
Therefore, since they are equal -
5x = 6y, or y = 5/6x.
Thus for each book that is bought by cash, one pays 1/6th less of the money they will spend if they used credit (also termed as discount).
Therefore, the discount is 1/6th the price of the original cost, or 16.66%.
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