discounted price = 24
discount rate = 20%
When an object is sold at a discount.
You can simply multiply the original price by the discount rate to get the value of the discount.
Original Price * Discount Rate = Value of the discount
Then, you subtract the value of the discount from the Original price to get the discount price
Original Price - Value of the discount = discounted price
Remember: The discount price can also be arrived at by multiplying the Original price with the difference of 100% and the discount rate, in its decimal form.
Original price * (100%-discount rate)/100 = Discount Price
Using the latest formula, we can compute for the original price by dividing the discount price by the difference of 100% and the discount rate, in its decimal form.
Original Price = Discount Price / (100%-discount rate)/100
Original Price = 24 / (100%-20%)/100
= 24 / 0.80
Original Price = 30
Discount Value = 30 * 20%/100%
= 30 * 0.20
Discount Value = 6
Discount Price = 30 - 6
Discount Price = 24
