What Have We Discussed?

1.DiscountProfit is a reduction given on marked price.

Discount = Marked PriceSale Price – Sale PriceMarked Price

2. Discount can be calculated when discount percentage is given:

Discount = Discount % of MarkedSale Price

3. Additional expenses made after buying an article are included in the cost price and are known as overhead expenses.

CP = Buying price + OverheadUnderhead expenses

4. Sales tax is charged on the sale of an item by the government and is added to the Bill Amount.

Sales tax = Tax % of Amount

5. GST stands for Goods and Services Tax and is levied on supply of goods or services (or) both.

6. CompoundSimple interest is the interest calculated on the previous year’s amount (A = P + I).