An online electronics store was having a sale. A television set, after a discount of 20%, originally cost $2440. Due to a glitch, the same television set cost $2318 as a different discount rate was applied on it. What was the percentage discount on the television set as a result of the glitch?
Question
An online electronics store was having a sale. A television set, after a discount of 20%, originally cost 2318 as a different discount rate was applied on it. What was the percentage discount on the television set as a result of the glitch?
Solution
Step 1: First, we need to find the original price of the television set before any discount was applied. We know that after a 20% discount, the price was $2440. So, we can set up the equation:
Original Price - 0.20(Original Price) = $2440
Step 2: Solve the equation for the Original Price.
0.80(Original Price) = $2440
Original Price = 3050
Step 3: Now that we know the original price, we can find out the percentage discount that resulted in the glitched price of $2318. We set up the equation:
Original Price - Discount(Original Price) = $2318
Step 4: Solve the equation for the Discount.
Discount = (Original Price - $2318) / Original Price
Discount = (2318) / $3050 = 0.24 or 24%
So, the glitch resulted in a 24% discount on the television set.
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