Replacing the given values in formula (a) we have:
Amount Saved = Original Price x Discount in Percent / 100. So,
Amount Saved = 500 x 10 / 100
Amount Saved = 5000 / 100
Amount Saved = $50 (answer).
In other words, a 10% discount for an item with an original price of $500 is equal to $50 (Amount Saved).
Note that to find the amount saved, just multiply it by the percentage and divide by 100.