Discount Amount
The discount amount refers to the reduction in price or cost of a product or service
The discount amount refers to the reduction in price or cost of a product or service. It is the difference between the original price and the discounted price. When a discount is offered, it allows customers to purchase the item at a lower price than its regular selling price.
To calculate the discount amount, you need to know the original price and the discount rate or the discounted price. The discount rate is usually given as a percentage of the original price.
The formula to calculate the discount amount is:
Discount Amount = Original Price × Discount Rate
For example, let’s say you want to buy a sweater that originally costs $50 and it is on sale with a 20% discount. To calculate the discount amount, you would use the formula:
Discount Amount = $50 × 0.20 = $10
Therefore, the discount amount for the sweater would be $10, and you would pay $40 after the discount is applied.
It’s important to note that the discount amount is different from the final price. The final price is the original price minus the discount amount. In the example above, the final price of the sweater would be $40.
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