discount Topic-wise Short Notes, Solutions, Methods, Tips, Tricks & Techniques to Solve Problems

Discount - Basic Formulas, Shortcuts, Rules, Tricks & Tips - Quantitative Aptitude

Useful For All Competitive Exams Like UPSC, SSC, BANK & RAILWAY

Posted By Careericons Team

Introduction to Discount:

Discount means a reduction of marked price to sell at a lower rate or literally discount means concession.

Basically, it is calculated on the basis of marked price.

Selling price = Marked price – Discount

Selling price = MP – $\text"(% Discount) x MP"/{100}$

'Discount' questions are a special type of Profit and Loss questions. But as questions of this type are regularly asked, hence it is suitable to practice separately with the following concepts, rules & formulas. Questions include/discount, successive discount, equivalent discount, and C.P./S.P. after discount. Also, questions based on special types, like the comparison between two discounts or comparisons of 'discount' and no discount' conditions are also asked 2 to 3 questions regularly in SSC, BANK, IBPS, Railway & UPSC exams.

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Top "4" Concepts To Solve Discount Based Aptitude Problems

In these questions topic, All the concepts are based on the amount of value that the goods or product is sold and the comparison between cost prices, selling price, marked price & listed prices as well.

Here In order to increase the sale or clear the old stock, sometimes the shopkeepers offer a certain percentage of rebate on the marked price or list price. This rebate is known as a discount. Discount is always given on marked price or list price. From this Discount types of problems are being asked based on the following 4 concepts.

These 4 basic Concepts are based on Discount problems asked in various SSC, BANK, UPSC, Railway & other competitive exams. By learning these 4 methods/ concepts with formulas & examples you can solve all kinds of problems that you face in your upcoming examinations.

Note that: All calculations of % discount are done on 'Marked' price and not on C.P./S.P. use formulae for speedy answers. It is important to have expertise in the identification of all types of questions.

Let us see the discount concepts one by one,

Concept 1: Mark Up and Discount

Marked Price: To avoid loss due to bargaining by the customer and to get profit over the cost price, the trader increases the cost price. This increase is known as markup and the increased price (i.e., cp+markup) is called the marked price or printed price or list price of the goods.

Marked Price = CP + markup

Marked Price = CP + $\text"(% marked ) x CP"/{100}$

Generally goods are sold at marked price, if there is no further discount, then in this case selling price equals marked price.

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Concept 2: Dishonest Dealer Case

If a trader professes to sell his goods at cost price, but uses false weights, then

% Gain = $\text"Error"/\text"True value - Error" x 100$

% Gain = $\text"True weight False weight"/\text"False weight" x 100$

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Concept 3:

Where two articles are sold at same price but one of them at a profit and another at a loss and the percentage profit is the same as the percentage loss,

In this case there is always a loss.

Loss % = $(\text"Common Profit or Loss%"/{10})^2 = (\text"% value"/{10})^2$

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Concept 4:

When two successive discounts on an article are x% and y% resp.

Net discount = $(x + y - {xy}/100) %$

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"9" - Important Aptitude Rules, Formulas & Quick Tricks to Solve Discount Based Aptitude Problems

In this list of rules, you will get an idea that How to solve all different types & kinds of Discount based aptitude problems asked in various competitive exams like UPSC, SSC, Bank, and Railway examinations at all levels.

By using this method, you can able to solve all problems from basic level to advanced level of questions asked based on Discount in a faster approch.

Let's discuss the rules one by one with all Discount related formulas with examples,

RULE 1 :

If Marked Price = (MP), Selling Price = (SP),

Then, Discount = MP – SP and

Note:

Any kind of Discount is calculated only on marked price and not on selling price or cost price.

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RULE 2 :

If article is sold on D% discount, then

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RULE 3 :

When successive Discounts $D_1, D_2, D_3$, so on, are given then

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RULE 4 :

If $D_1, D_2, D_3$ are successive discounts, then equivalent discount/overall discount is (in percentage)

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RULE 5 :

(Special Case) : When two successive disounts are given,

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RULE 6 :

If r% of profit or loss occur after giving D% discount on marked price, then

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RULE 7 :

'y' articles (quantity/number) are given free on purchasing 'x' articles. Then,

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RULE 8 :

A tradesman marks his goods r% above his cost price. If he allows his customers a discount of $r_1$% on the marked price. Then the

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RULE 9 :

The marked price of an article is fixed in such a way that after allowing a discount of r% a profit of R% is obtained. Then,

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Refer: Get all Topic-wsie Quantitative aptitude problems for upcoming competitive exams