What is Marked Price, Discount, and VAT?
Marked Price
The price which is listed or printed on
the item or article for sale is called the marked
price or labeled price of the item. It is denoted by MP.
Discount
When a shopkeeper reduces a certain amount from the marked
price of an article and sells it to the customers, the reduced amount is called a discount. Discount usually is given as
a certain percent of the marked price.
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