Household Arithmetic

Discount Buying:

A discount is a reduction in price. 

Example 1.3.1:

The selling price of a chair is ₦14,000. The trader gives a 25% discount for cash. What is the cash price? 

Solution  

Discount = 25% of ₦14,000

= \( \frac{25}{100} \scriptsize \: \times \: ₦14,000 \)

= \( \scriptsize 25 \: \times \: ₦140\)

= \( \scriptsize ₦3,500\)

Cash price = \( \scriptsize ₦14,000 \: – \: ₦3,500\)

= \( \scriptsize ₦10,500\)

Example 1.3.2:

Find the discount price if a discount of 10% is given on a cost price of ₦430. 

Solution 

Discount = 10% of ₦430 

= \( \frac{10}{100} \scriptsize \: \times \: ₦430 \)

= \( \scriptsize ₦43 \)

Discount price = ₦430 – ₦43 

= ₦387