Calculating Selling Price After Discount Gideon's TV Set Example

Hey everyone! Let's dive into a math problem that involves discounts and selling prices. We're going to figure out how much Gideon paid for his TV after getting a sweet 5% discount. Ready to roll?

Understanding the Problem

The marked price of the TV, that's like the original price tag you see in the store, is 60,000 shillings. Gideon, being the smart shopper he is, snagged a 5% discount. The big question is: What was the selling price? In other words, how much did Gideon actually pay after the discount was applied?

To solve this, we need to break it down into a couple of steps. First, we'll calculate the amount of the discount. Then, we'll subtract that discount from the original marked price to find the final selling price. Think of it like this: Discount = (Discount Percentage / 100) * Marked Price, and Selling Price = Marked Price - Discount. It's like finding a hidden treasure of savings!

Let's get to the nitty-gritty and put those formulas to work. We need to be meticulous in our calculations to ensure we arrive at the correct selling price. Understanding percentages is key here, guys. A percentage is just a fraction out of 100, so 5% is the same as 5/100. This makes it easy to calculate the discount amount. Remember, math isn't about memorizing formulas; it's about understanding the concepts and applying them in real-world scenarios, like Gideon getting a great deal on his TV!

Calculating the Discount Amount

Alright, let's crunch some numbers! The first step in figuring out Gideon's selling price is to determine the actual amount of the discount he received. We know the marked price is 60,000 shillings, and the discount is 5%. So, how do we find 5% of 60,000 shillings?

Remember that 5% is the same as 5/100. So, we can calculate the discount by multiplying the marked price by 5/100. That's Discount = (5/100) * 60,000. To make things easier, we can simplify 5/100 to 1/20. Now our equation looks like this: Discount = (1/20) * 60,000. This is where our math skills come in handy! We're essentially dividing 60,000 by 20. You can do this mentally, or use a calculator if you prefer. Either way, the answer will reveal the magic number representing Gideon's savings.

When you divide 60,000 by 20, you get 3,000. So, the discount amount is 3,000 shillings. This means Gideon saved 3,000 shillings off the original marked price. This is a significant amount, and it's a testament to the power of discounts! But we're not done yet. We've only calculated the discount; now we need to subtract it from the marked price to find the final selling price. Think of this step as revealing the true cost of the TV after Gideon's smart shopping skills have been applied. We're almost there, guys! Let's move on to the final calculation.

Determining the Final Selling Price

Okay, we've done the hard work of calculating the discount amount, which we found to be 3,000 shillings. Now comes the moment of truth: figuring out the final selling price that Gideon actually paid for his TV. This is the bottom line, the real cost after the discount magic has happened.

We know the marked price, the original price before the discount, was 60,000 shillings. And we know Gideon saved 3,000 shillings thanks to the 5% discount. To find the selling price, we simply subtract the discount from the marked price. So, our equation is: Selling Price = Marked Price - Discount, or Selling Price = 60,000 - 3,000. This is a straightforward subtraction problem, but it's crucial to get it right to know exactly how much Gideon spent.

When you subtract 3,000 from 60,000, you get 57,000. Therefore, the selling price of the TV set is 57,000 shillings. This is the amount Gideon paid after the 5% discount was applied. He managed to save a considerable amount, making his purchase even sweeter. This whole process highlights the importance of understanding discounts and how they affect the final price of an item. Gideon's savvy shopping skills paid off, and now we know exactly how much he saved and how much he paid. Great job, Gideon, and great job to us for solving this problem! We've conquered the world of discounts and selling prices, one TV set at a time.

Final Answer

The selling price of the TV set after the 5% discount is 57,000 shillings. Gideon got a great deal!