While you're out shopping, this calculator will come in helpful.
It can be used to locate the best deal on reduced items and to get the most bang for your buck.

 

Sale Price:

The sale price is the discounted price at which goods or services are being sold. In other words the discount is advertised as a percentage reduction from the normal price. It is calculated using the following formulae;

Sale Price=price - (discount % *price)

Additional Discount:

Take an additional ___% off the already discounted item.  This calculation is not as easy as just adding the percentages together, so this calculator really helps in the moment.

This is handy when the item is on sale for a certain % off and then you get an addition % off (clearance items, employee discounts/friends and family discounts, etc)

Best Value:

Compare items by cost per unit of weight or volume to see which is the best deal.

The best value means the value placed upon quality, service, past performance and price. At this section we have

1.price/unit comparison which is calculated using the following formulae

$A/unit=or > or < $B/unit

2.Price/Amount comparison; which  compares price over amount using the following formulae

 

$A/unit of weight or mass=or > or < $B/unit of weight or mass

Types of Discounts

1. Trade discount,
2. Quantity discount, and
3. Cash discount.

These are explained below;

• Trade discount

A trade discount refers to the amount removed from the price list of the items sold. The invoice price or sale price is determined by subtracting the trade discount from the quoted price. The trade discount is not taken into consideration.

• Quantity discount

Quantity discount refers to the discount given by the seller to the buyer on purchases that exceed the seller's minimum sales target.
If the sale amount exceeds the minimum goal sale, the seller gives the buyer an excess discount after awarding a standard trade discount.
A quantity discount refers to the extra amount of discount. It's part of the cash discount that appears on the challan/invoice.

• Cash discount

For the realization of outstanding sales within the term period of sales, the seller provides a discount to the debtor. This is referred to as a cash discount.
The discount is for a one-time use only. The discount expense and discount gain are recorded on the treble column cash book's debit and credit sides, respectively.

References

sale price defination. (n.d.). Accounting Tools. Retrieved November 14, 2021, from https://accountingtools.com

Types of discounts. (n.d.). Iedunote. Retrieved November 15, 2021, from https://www.iedunote.com/discount-types