Practice Discount: True and Banker's Questions and Answers 2024

Rule	Description
1	If Marked Price = (MP) Selling Price = (SP) Then, Discount = MP – SP Discount % = \[\frac{Discount}{MP} \times 100\] Discount % = \[\frac{MP-SP}{MP} \times 100\] Note: Any kind of Discount is calculated only on Marked Price (MP) and not on Selling Price (SP) or Cost Price (CP).
2	If article is sold on D% discount, then \[SP=\frac{MP(100-D)}{100}\] \[MP=\frac{SP \times 100}{100-D}\]
3	When successive Discounts \[D_1, D_2, D_3,\] so on, are given then \[SP=MP\left(\frac{100-D_1}{100}\right)\left(\frac{100-D_2}{100}\right)\left(\frac{100-D_3}{100}\right)\]
4	If \[D_1, D_2, D_3,\] are successive discounts, then equivalent discount/overall discount is (in percentage) \[100-\left[\left(\frac{100-D_1}{100}\right)\left(\frac{100-D_2}{100}\right)\left(\frac{100-D_3}{100}\right)\times100\right]\]
5	When two successive disounts \[(D_1, D_2)\] are given, then overall discount = \[\left(D_1+D_2-\frac{D_1D_2}{100}\right)\%\]
6	If r% of profit or loss occur after giving D% discount on Marked Price (MP), then \[\frac{MP}{CP}=\frac{100\pm r}{100-D}\] (positive sign (+) for profit and negative (-) for loss)
7	‘y’ articles (quantity/number) are given free on purchasing ‘x’ articles. Then, Discount % = \[\frac{y\times100}{x+y}\]
8	A tradesman marks his goods r% above his cost price. If he allows his customers a discount of r₁% on the marked price. Then his profit or loss per cent is \[\frac{r\times\left(100-r_1\right)}{100}-r_1\] (positive sign (+) for profit and negative (-) for loss)
9	\[\left(\frac{r+R}{100-r}\times100\right)\%\] more than its cost price. The Marked Price (MP) of an article is fixed in such a way that after allowing a discount of r% a profit of R% is obtained. Then the marked price of the article is \[\left(\frac{r+R}{100-r}\times100\right)\%\] more than its cost price.