Calculating discounts, an essential aspect of modern day transactions, refers to the process of determining the reduced price of a product or service. In retail stores, for instance, a 20% discount on a $100 item brings down the cost to $80.
The ability to calculate discounts holds great relevance for both consumers and businesses. Savvy shoppers can make informed purchasing decisions, while businesses can effectively manage their pricing strategies and increase sales. Historically, the concept of discounts has evolved from simple price reductions to complex loyalty programs and targeted promotions.