07-03-2006, 07:26 AM
Discount and rebate are quite similar words and often used interchangeably.
But as per my understanding, a discount is applied according to a predetermined rate.
and a rebate is the straight deduction of an amount from the amount payable.
for example. U may get shoes at a discount of 10%. But if it is written outside that shop, that a Rs. 100 reduction on shoes costing less than 1,000 and a Rs. 200 reduction on shoes costing between 1,500 and 2,000, then this is rebate.
But as per my understanding, a discount is applied according to a predetermined rate.
and a rebate is the straight deduction of an amount from the amount payable.
for example. U may get shoes at a discount of 10%. But if it is written outside that shop, that a Rs. 100 reduction on shoes costing less than 1,000 and a Rs. 200 reduction on shoes costing between 1,500 and 2,000, then this is rebate.
