20% of $100 =$20
$100 - $20 = $80
Second Way:
100% - 20% = 80%
80% of $100 = $80
Example: A merchant receives two bills of $200 each. On one there is a discount of 25%; on the other, 15% and 10%. What must he pay on each, net?
First Bill:
100% - 25% = 75%, or 3⁄4
3⁄4 of $200 = $150.
Second Bill:
100% - 15% = 85%
100% - 10% = 90%
90% of 85% = 76.5%
.765 × $200 = $153.
PROMISSORY NOTES
A note is a written promise to pay a specified sum at a certain time.