Percentage discount – True or False?

Full cost = 0,000

Discounted cost = $ 99,900

70% Discount saving = 0,100

True or False. Or is there a way of creative accounting so that the above statements all become correct?

All answers greatly appreciated. Thanks.
Please give reasons / calculations for your answers.
Lachie – Thanks – just asking, so maybe I should be doing this hahahaha. Found the statements on a web site. 🙂

J V – Thanks – My teacher said, "very dodgy to assume with maths".

037 G – Thanks – Sell 2/3 a day. woot. 😛

Thanks 4 your answers – any more please.
Thank you. Found it hard to choose the Best Answer.

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4 Responses to “Percentage discount – True or False?”

  1. 037 G says:

    A 70% discount of 350,000 is
    350,000 * 0.70 = $245,000 for a cost of $105,000

    Discounting $250,100 from $350,000 is a
    250,100/350,100 X 100 = 71.45% discount

    If the discounted cost is 99,900 then
    99,900/350,000 X 100 = 28.31% of the original price so the discount is 100-28.3 = 71.68%

    As you can see none of the given numbers match up, but the best deal for a buyer is the 99,900 price and for a seller the 70% discount, which one are you?

  2. Elisabeth says:

    it is false. It is actually MORE than 70%

  3. Lachie says:

    70% discount would bring the price down to $105,000
    the discount savings would be: $245,000

    to get the savings you have mentioned the discount would have to be about 71.46% off but thats a rounded number.

    and i think that if you have to ask if there are creative ways to bend the truth then maybe you shouldn’t be doing this hahahaha

  4. J V says:

    I agree with the first answer.
    250,100 is about 71.46% of 350,000.
    I can’t see any benefit of creative accounting, since the savings is already understated.

    It’s not a trick question where the figures are "after tax" I assume.

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