How to Use Discount Calculator
First enter the starting price of the item and then the Discount percentage. Once these fields are filled in the last two fields will automatically do the calculation.
Price after discount displays the price with the discount applied
Money saved is the amount of money you saved with the discount!
How to calculate discount price
:Original Price - (Original Price X Discount Percentage / 100)
In a store there is a TV which has a discount of 10 percent, the original price is $500.
To calculate the discounted price $500 - ($500 X 10 / 100) = $450. The discounted price is $50 cheaper.
Another example is if we purchase a new couch and we are given the 2/10 net 30 discount. The couch costs $700 and we are offered a discount of 3% if we pay within the first 10 days. We pay after 5 days, therefore we get the 3% discount.
We again use the same formula, $700 - ($700 X 3 / 100) = $679 is our discounted price.
Definition: A discount is a reduction in the price of the product or service.
There are various reasons for a store selling items with a discount or for a company to offer services at a discounted price.
Some of the purposes may be:
- Out of date stock
- Sales promotion
- Improve short-term sales
- Reward customers
There are many different types of discounts, we'll go through a few of them.
Propt payment discount
These discounts are intended to reward customers who pay quickly. 2/10 net 30 discount, is a discount where the customer/buyer must pay within 30 days of receiving the invoice. They will receive a 2% discount if they pay within 10 days of receiving the invoice.
Preffered payment method Discount
When paying with a credit card there are often hidden costs, to avoid this some retailers, generally, small retailers offer discounts to any customers paying in cash, this lets the store avoid the paying fees on credit card purchases.
These discounts are giving when the stock is out of season, for example, winter clothes being bought in the summer.
Often in a store, there will be sales with signs saying 10 percent off or coupons etc. Sometimes it may be difficult to see how much you've saved and what the price is after the discount is applied as it may not be displayed on the sign.
As a customer this calculator will tell you what the price is after the discount has been applied, also how much you've saved with the discount compared to the original price. All that is needed is the original price and the discount percentage.