Finding Discounts:

Terms:
1. Original price – refers to the regular price of the item.
2. Rate of Discounts – refers to the percent Taken off from the original price.
3. Net price / Sale price – refers to the price of the item after the discount has been deducted.
Formulas:
Discounts = Original Price x Rate of Discounts
Discounts
Rate of Discounts = x 100
Original price
Discounts
Original price =
Rate of Discounts
Net Price = Original price – Discount
or Net Price = Original price x (100% - Rate of Discounts)

Example: A bag was sold for Php 630.00. What was the original price of the bag if there was a 30% discount?

Solution:
Net Price = Original price x (100% - Rate of Discounts)
Php 630.00 = Original price x (100% -30%)
Php 630.00 = Original price x (70%)
630 70% = 0.70
= Original price
0.70
Original price = Php 900.00

Computing Commission
Terms:
Total Sales – refers to the total amount of sales made by a salesperson
Rate of Commission – refers to the percent taken off from the selling price
Net proceeds – refers to the amount that remains after the commission has been deducted from the
total sales.
Formulas:
Commission = Total sales x Rate of commission
Commission
Total sales =
Rate of commission
Commission
Rate of Commission = x 100
Total sales
Net proceeds = Total sales – Commission
or Net Proceeds = Total Sales x (100% - Rate of Commission)
Example:
A car sold for Php 720,000.00 and the dealer gets a Php 108, 000 commission. What is the rate of
commission given?
Commission
Rate of Commission = x 100
Total sales
108,000
Rate of commission = x 100
720,000
Rate of commission = 0.15 x 100
Rate of commission = 15 %

Computing Simple Interest

Principal (P) – refers to the amount of money, invested, deposited or borrowed.

Rate of Interest (R) refers to the percent added to the principal amount.

Time (T) – refers to the length of time the money has been deposited, invested, or borrowed

Amount Due – refers to the total amount to be paid or received after a certain period of time that the principal has been
borrowed or deposited.

Formulas:

I
I=PxRxT T= Amount Due = P x I
PxR
I I
P= R= x 100 Amount Due = P x (1 + R x T)
RxT PxT
Example:

Francis deposited PHP 25,000 in a savings bank account. The bank pays 0.25% per year annum (yearly). What
will the total amount of savings of Francis after 3 years?

Solution: Amount Due = P x (1 + R x T)

= Php 25,000 x (1 + 0.0025 x 3)

= PHP 25,000 x (1 + 0.0075)

= PHP 25,000 x 1.0075

= Php 25,187.50