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Discounts and Commissions Quiz

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Questions and Answers

Which of the following is an example of a discount?

Increasing the price of an item

Paying full price for an item

Adding an extra charge to the original price

Getting a percentage off the original price (correct)

What is commission?

A reduction in price

An additional charge for a product

An increase in price

A fee charged for a service (correct)

When calculating the total cost of an item after a discount, what should you do?

Divide the original price by the discount percentage

Subtract the discount percentage from the original price (correct)

Add the original price and the discount percentage

Multiply the original price by the discount percentage

Study Notes

Discount and Commission

A discount is a reduction in the original price of an item, such as a percentage or fixed amount off the original price.
Commission is a payment made to an agent or intermediary for services rendered, typically calculated as a percentage of the sale price.

Calculating Total Cost

To calculate the total cost of an item after a discount, subtract the discount amount from the original price to find the sale price, then add any applicable taxes or additional fees.

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Description

Test your knowledge on discounts and commissions with this quiz! Learn about examples of discounts, what commission is, and how to calculate the total cost of an item after a discount.