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What is successive discount?

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What is successive discount?

Successive discount is the discount offered on the discount. It is similar to compound interest (interest on interest). Let us have an example to understand the concept. Let the original price of a CD be ‘x’. a shopkeeper offers a discount of ‘y\%’ and again ‘z\%’ on the new price.

What is meant by 30\% discount?

For the item on sale at 30\% off, you would need to pay 70\% of the price. Thus, a $100 item would cost $35 after both discounts. An 80\% off sale means that you pay 100\% – 80\%, or 20\% of the original cost of the item.

What is meant by 20\% discount?

Percentage discount is a discount that is given to a product or service that is given as an amount per hundred. For example, a percentage discount of 20\% would mean that an item that originally cost $100 would now cost $80.

What is the meaning of flat 50\% off?

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for example if a seller is giving us flat 50\% discount, it’s on our grand total and if the seller is giving us 50\% off on any item it means the seller is holding that item on a price that’s 50\% lower than actual cost. punineep and 37 more users found this answer helpful. Thanks 25. 3.6. (12 votes)

How do you use successive discounts?

If the successive discounts d1, d2, and d3 are given on an item, then the selling price of that item is calculated by, SP = (1 – d1/100) x (1 – d2/100) x (1 – d3/100) x MP, where SP is selling price and MP is marked price.

What is the total discount of two successive 20\% and 15\% discount?

Answer: ans: 32\% see the explanation in the above image.

What is the meaning of 100\% discount?

It means an item is sold at a price that is lower as compared to the usual price. Discounts are usually represented as percentages. A percentage discount of 10\% means an item that originally costs Rs 1,000 is now available for Rs 900. You have saved Rs 100 on the purchase.

How do you work out 60 Off a price?

Multi-Item Discount Formula

  1. Multiply number of items at list price, by list price: 3*20 = 60.
  2. You are paying $60 and you’ll get 4 items.
  3. The discount price for each item is 60/4 = $15.
  4. With the formula: (3*20) / 4 =
  5. Buying 4 for 3 at $20 each means you’ll spend $60 for 4 items; the per item discounted price is $15.
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How do you calculate 50 percent discount?

How to calculate percent off?

  1. Divide the number by 100 (move the decimal place two places to the left).
  2. Multiply this new number by the percentage you want to take off.
  3. Subtract the number from step 2 from the original number. This is your percent off number.

What is meant by flat discount?

Flat Discount means final discount given by a seller on grand total, mostly for the purpose of rounding off. Currently, the Flat Discount is available on all selling transactions. You can define an actual amount to be discounted in “Flat Discount” field.

How do you calculate successive discount?

4.6

  1. Given: The successive discount are 20\%, 10\% and 15\%.
  2. Formula: Successive discount = X + Y – (XY)/100. Where, X = First discount. Y = Second discount.
  3. Calculation: Successive discount = X + Y – (XY)/100. ⇒ 20 + 10 – 200/100. ⇒ 28\% Now, again. Successive discount = X + Y – (XY)/100. X = 28\%, Y = 15\% ⇒ 28 + 15 – (28 × 15)/100.

What does 1/10 mean in terms of discount?

This is a two-part statement, where the first item is the percentage discount allowed, and the second item is the number of days within which payment can be made in order to receive the discount. Thus, terms of “1/10” mean that a discount of 1\% can be taken if payment is made within 10 days.

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What is the difference between net 30 and net 60?

Variations to Net 30 usually refer to longer payment terms or discounts meant to incentivize buyers to pay on time. A Net 60 payment term means that the buyer has 60 days from the date of completion to pay for the order. 1/10 Net 30 means that the buyer will receive a 1\% discount if payment is made within 10 days.

How do you calculate discount percentage under 2/10 net 30?

Subtract the discount percentage from 100\% and divide the result into the discount percentage. For example, under 2/10 net 30 terms, you would divide 2\% by 98\% to arrive at 0.0204.

What is a net 60 payment term?

A Net 60 payment term means that the buyer has 60 days from the date of completion to pay for the order. 1/10 Net 30 means that the buyer will receive a 1\% discount if payment is made within 10 days. 2/10 Net 60 means that the buyer receives a 2\% discount if the order is made within 10 days otherwise the payment must be made in full within 60 days.