Replacing the given values in formula (a) we have:
Amount Saved = Original Price x Discount in Percent / 100. So,
Amount Saved = 500 x 100 / 100
Amount Saved = 50000 / 100
Amount Saved = $500 (answer).
In other words, a 100% discount for a item with original price of $500 is equal to $500 (Amount Saved).
Note that to find the amount saved, just multiply it by the percentage and divide by 100.