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How to calculate price discount - 2 ways, professionals please?
Hi there, I am just wondering if you ever heard about this. Say you have something priced $100. If you give 10% discount, you multiply $100 by 0.9. And the result is $90. Clear.
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There is another way how to calculate "10%" discount, by dividing $100 by 1.1, and the result is approximately $90.90.
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Please do you have any academic reference for the second model? Thanks. Please serious answers, as I know some businesses use the second model. I know that it is mathematically absolutely wrong.
to find 10% of any number you simply divide by 10 - so 10% of $100 is always going to be $10
the other way you describe is for calculating 10% gst/vat of a price which is calculated by dividing the price by 11 - eg. if you paid $100 for something the 10% gst or vat included in the price is calculated by dividing 100 by 11 which = $9.09 which means the price of the item before gst/vat was added would have been $90.91 then add the 9.09 = 100 - OR - $100 + 10% gst/vat = $110
Cheap: The High Price of Discount Culture