Discounts - Definition, Examples, Quiz, FAQ, Trivia
Learn how discounts work with easy explanations, examples, and practice activities
What is a Discount?
A discount is a reduction in the price of an item. It's like getting a special deal where you pay less than the original price. Discounts are often shown as percentages like 10%, 20%, or 50% off.
Why do stores offer discounts? Stores use discounts to attract customers, sell more products, or clear out old stock. For shoppers, discounts mean saving money!
Here are some important terms:
- Original Price: The regular price before any discount
- Discount Percentage: The percent amount taken off the original price
- Discount Amount: The money amount saved
- Sale Price: The price you actually pay after the discount
Key Concept
A discount reduces the price of an item. You pay the sale price which is original price minus discount amount.
How Discounts Work
Understanding how discounts work is like solving a math puzzle! Let's break it down:
Step 1: Find the original price of the item
Step 2: Determine the discount percentage
Step 3: Calculate the discount amount (money saved)
Step 4: Subtract the discount amount from the original price to get the sale price
Here's the math behind discounts:
Discount Calculation
Example: A backpack costs $40. There's a 30% discount. How much will you pay?
Step 1: Original price = $40
Step 2: Discount percentage = 30%
Step 3: Discount amount = 40 × (30 ÷ 100) = 40 × 0.30 = $12
Step 4: Sale price = 40 - 12 = $28
You'll pay $28 for the backpack and save $12!
Remember
The discount percentage always refers to the original price. A 50% discount means you pay half the original price.
Discount Formulas
Now that you understand how discounts work, let's learn some useful formulas:
Discount Formulas
Finding Discount Amount: If you know the original price and discount percentage
Finding Sale Price: If you know the original price and discount amount
Finding Discount Percentage: If you know the original price and discount amount
Let's practice:
Example 1: A video game costs $60 with a 25% discount. What's the discount amount?
Discount Amount = 60 × (25 ÷ 100) = 60 × 0.25 = $15
Example 2: A bicycle originally costs $200. The discount amount is $40. What's the sale price?
Sale Price = 200 - 40 = $160
Example 3: A book costs $20. After discount, it sells for $15. What's the discount percentage?
Discount Amount = 20 - 15 = $5
Discount% = (5 ÷ 20) × 100 = 25%
Formula Tip
Remember to convert percentage to decimal by dividing by 100 before multiplying!
Real-World Examples
Discounts are everywhere! Let's look at some real-world examples:
Example 1: Clothing Store
A shirt costs $30 with a 20% discount.
Discount Amount = 30 × 0.20 = $6
Sale Price = 30 - 6 = $24
A tablet costs $500 with a 15% discount.
Discount Amount = 500 × 0.15 = $75
Sale Price = 500 - 75 = $425
Cereal costs $4.50 with a 40% discount.
Discount Amount = 4.50 × 0.40 = $1.80
Sale Price = 4.50 - 1.80 = $2.70
A winter coat costs $120 during spring clearance with a 60% discount.
Discount Amount = 120 × 0.60 = $72
Sale Price = 120 - 72 = $48
A puzzle originally costs $25. It's on sale for $20.
Discount Amount = 25 - 20 = $5
Discount Percentage = (5 ÷ 25) × 100 = 20%
Shopping Tip
Always calculate the sale price to know how much you're really saving!
Discount Practice Quiz
Test your discount knowledge with this 5-question quiz. Choose the correct answer for each question.
Frequently Asked Questions
Here are answers to common questions about discounts:
Discount Trivia
Discover interesting facts about discounts and shopping:
First Recorded Discounts
The first recorded discounts date back to ancient marketplaces where merchants would reduce prices at the end of the day to sell perishable goods before they spoiled.
The Psychology of Discounts
Studies show that people feel they're getting a better deal when discounts are presented as percentages rather than dollar amounts, even when the savings are identical.
Biggest Discount Ever
The largest discount ever offered was on Black Friday 2013 when a store sold 60-inch TVs for $199 (normally $1,000) - an 80% discount that caused store stampedes!
Discount Seasons
The best discount seasons are January (post-holiday sales), July (summer clearance), and November (Black Friday). Smart shoppers save up for these discount periods.
