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    Finding Discount, Commission and Interest

    Uploaded by

    Aiza Malonda
    The document defines discount, commission, and interest and provides examples of how to calculate each. Discount is calculated by taking the original price and multiplying it by the discount rate. Commission is calculated by taking total sales and multiplying it by the commission rate. Interest is calculated by taking the principal, multiplying it by the interest rate, and multiplying that by the time period. Formulas and examples are provided for calculating each.

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    Finding Discount, Commission and Interest

    Uploaded by

    Aiza Malonda
    25 views17 pages
    The document defines discount, commission, and interest and provides examples of how to calculate each. Discount is calculated by taking the original price and multiplying it by the discount rate. Commission is calculated by taking total sales and multiplying it by the commission rate. Interest is calculated by taking the principal, multiplying it by the interest rate, and multiplying that by the time period. Formulas and examples are provided for calculating each.

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    The document defines discount, commission, and interest and provides examples of how to calculate each. Discount is calculated by taking the original price and multiplying it by the discount rate. Commission is calculated by taking total sales and multiplying it by the commission rate. Interest is calculated by taking the principal, multiplying it by the interest rate, and multiplying that by the time period. Formulas and examples are provided for calculating each.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    25 views17 pages

    Finding Discount, Commission and Interest

    Uploaded by

    Aiza Malonda
    The document defines discount, commission, and interest and provides examples of how to calculate each. Discount is calculated by taking the original price and multiplying it by the discount rate. Commission is calculated by taking total sales and multiplying it by the commission rate. Interest is calculated by taking the principal, multiplying it by the interest rate, and multiplying that by the time period. Formulas and examples are provided for calculating each.

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    © All Rights Reserved
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    FINDING

    DISCOUNT,
    COMMISSION AND
    INTEREST
    Finding discount
    Discount:
    Decrease in the price of an item.
    It is the amount to be deducted from th
    original price
    In terms of percentage, base and rate, the discount and the net
    price represent percentage, original price represents the base
    and the discount rate represents the rate.

    To solve discount problems, the following formulas can be used.

    Discount = Original price x rate of discount


    Example:

    Nikki bought a scarf with an original


    price of ₱ 250.00. If she received a
    discount of 20%, how much is the
    scarf?
    Given:
    Original price = ₱ 250.00
    Rate of Discount = 20% (0.20)
    Solution:
    Discount = ₱ 250.00 x 0.20
    = ₱50.00
    To find the amount of scarf,
    use the formula,
    Amount of the scarf =
    Original price - Amount of discount
    Solution:
    Amount of the scarf = ₱ 250.00 - ₱50.00
    = ₱ 200.00
    Exercise # 3. Solve the given
    problem.
    1. The price of an umbrella is ₱ 150.00.
    If it is sold at a discount of 15%, then
    what is the selling price of the
    umbrella?
    Exercise # 3. Solve the given
    problem.
    2. The marked price of a water cooler
    is ₱ 4650. The shopkeeper offers an
    off-season discount of 25% on it. Find
    its selling price.
    Finding Commission
    Commission:

    It is the amount of money a person


    receives for his/her service.
    In terms of percentage, base and rate, the commission and the
    net proceeds represent percentage, total sales represents the
    base and the rate of commission represents the rate.

    To solve commission problems, the following formulas can be


    used.

    Commission = total sales x rate of commission


    Example:

    John is selling sets of knives and


    makes a 10% commission on all sales.
    What would his commission be on the
    sale of a ₱32, 500 set of knives?
    Given:
    Total sales = ₱ 32 500.00
    Rate of Commission = 10% (0.10)
    Solution:
    Commission = ₱32 500.00 x 0.10
    = ₱3, 250.00
    Solve the given problem.

    Ronald gets 16% commission for


    selling a piece of lot. How much will he
    receive as a commission if the lot is
    sold for ₱ 250,000?
    Finding Interest
    Interest:

    it is the amount of money paid for the use


    of money lent over a period of time.
    In terms of percentage, base and rate, the interest represents
    interest represents the rate. However, the given rate of interest is
    expressed in terms of time.

    To solve interest problems, the following formula can be used.

    Interest = Rate x Principal x Time


    Example:

    Mark borrowed ₱ 75, 000 from a bank to


    start a business. If the interest rate is
    18%, how much would he have to pay at
    the end of the year?
    Given:
    Principal = ₱ 75, 000
    Rate = 18%
    Time = 1 year
    Solution:
    Interest = ₱75, ooo x 0.18 x 1
    = ₱ 13, 500.00

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