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Leanne Marie CoughlanLeanne Marie Coughlan 

Formula to calculate discounts on prices

Hi

When applicable our Sales Agents will be giving our Customers a certain % of the Product Price.
I am having trouble writing a formula to calulate what the product price would be after the discount is applied.
For example:
Product Price = £250
Agent wants to apply a 12% discount
I want the new price to automatically calculated and display in the Discounted Price Field.

Is this something standard in Salesforce or do I need to create a formula field?

Many Thanks
Leanne
Nitish SinghalNitish Singhal
Hi Leanne,

Please use the below formula where I have considered discount field to be a percent data type field. 
Product_Price__c - ( Product_Price__c  * ( Percent_Discount__c  / 100))

Here is another formula, in case your discount field is picklist field. 
 
Product_Price__c - ( Product_Price__c  * (VALUE(TEXT( Percent_Discount__c ) ) /100))

Regards
Sunil SarillaSunil Sarilla
Hi Leanne,
The formula will be
Product_Price__c * (1 - Discount__c)
Please use the insert field button to select the field API Names
 
Leigh HavelkaLeigh Havelka
Hi Leanne,
Did you find a solution for this? I've created a custom Discount Price formula field but something is happening with the rounding. The Discount Price * Qty doesn't equal the Total Price, and these are the fields I'm using on the Quote PDF.  The Total Price is un-rounded I believe. 
Thanks,
Leigh
Antonio LenguascoAntonio Lenguasco
Can anybody elaborate on this?:

Product_Price__c * (1 - Discount__c) 

I don't understand the logic behind it. I know it's working but I'd like to know WHY, please. Why do we use '1 - percentage field' and works? what does it mean that '1'?

Thanks in advance
Abhinandan TiwariAbhinandan Tiwari
Hi Tony,

As per my understading.
we can write 10% as 0.1(10/100) and for 20% as 0.2 (20/100) and so on.

Lets say Product price is 400$ and there is 10% discount on this. so the dicounted price should be 360$.
Product_Price__c * (1 - Discount__c)

=400*(1-0.1)
= 400*(0.9)
=400*(9/10)
=40*9=360$