What is the rate of discount if a product costing Tk. 500 is sold for Tk. 470?

Question: What is the rate of discount if a product costing Tk. 500 is sold for Tk. 470?

Solution:
Given that,
Original cost (Marked Price) = Tk. 500
Selling Price = Tk. 470

Discount amount = (500 - 470) Tk.
= 30 Tk.

Rate of discount = Discount amount/Original cost
= 30/500
= 3/50
= 0.06

∴ The rate of discount is 0.06