What is the meaning of "true discount is reckoned on the amount.". What is meaning of reckoned on. Please give a small example also.
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"reckoned" means "calculated". – Gerry Myerson Sep 15 '18 at 12:52
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@GerryMyerson then we can also calculate true discount from present worth also. – yuluta Sep 15 '18 at 13:10
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The discount should be stated as a proportion or percentage of the original price , not a proportion or percentage of the final price. An original price of \$100, reduced to a final price of \$80 has been reduced by $20$% . It is mathematically true that \$20 is $25$% of \$80 but the price has not been reduced by $25$%. If you see "Reduced by $25$%" you should ask "WHAT is reduced to 75% of its previous price?" And the answer will not be the "the final price", otherwise it would have to be less than itself.
BTW. I frequently see stickers ( in the meat departments of supermarkets) , separate from the price/price per weight/ weight tags, that say things like "25% less" or "20% cheaper". These are not even wrong. There is no discount to be calculated or mis-calculated.
DanielWainfleet
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