Got this in the mail today. Woolworths are giving a 5% bonus when you deposit coins at the coin kiosk and convert them into Woolworths gift cards. This offer is only available at the stores listed in the flyer and lasts until 30/06/2017.
Stores:
$100 for $105 gift card is in fact only 4.76%, better get from CashRewards for 5%
I want to see the maths on that. Cause I thought 5% of $100 was $5. So, $100 + $5 would be $105???
Or do you often go in and buy $105 gift cards? So at $100, for you it's $5 off. Means you're only paying 95.23% of your usual price…
Big question is, I guess, is it $5 extra or $5 off??
Paying $95 for $100 value is very slightly better than paying $100 for $105 value.
To get that number, they divided 100 by 105 then - 1
It says in big text BONUS 5%.
So, if I go in to buy a $100 card and I am told that there is a special on and that I'll get 5% extra added on my $100, how much should I actually get? $104.76???
@samehada: I'm asking because I want to know. If I put in $100 and get a bonus 5% on top of my $100, if not $105, what should I be getting?
The ad says "Depost coins and get 5% more…" so, if I deposit $100 in coins and get "5% more", how much should I actually be getting? Because if I'm only getting $105 and I should be getting, let say, $105.26, then I want to know the maths so I can take it up with the manager at the store…
So, what is $100 + "5% more"?
@pegaxs: of course you get exactly 5% extra as per the ad say. Why should you get $105.26???
If you pay $100, you will get $105 of gift card. That is 5% bonus of what you pay ($100). Just a tricky way to mask the true discount percentage.
@samehada: it's not a discount, it's a bonus. And you can neg my posts all you like, but the ad is correct. Is there a better way to get a bigger "discount"? Sure. Are they offering it as a discount? No.
It seems you are the one that needs to go back to school and learn English and maths.
So next time I open a bank account and get a 5% first deposit "bonus", what I should actually ask for is a first deposit "discount"?
Put it this way, with this deal, you will get a $105 giftcard for $100 while with Cash Rewards you will get a $105 giftcard for $99.75.
Bonus 5% is different from saving 5%.
In term of saving:
100 x (1-5%)= 95
105 x (1-A%)= 100
A=4.76%
PS. I learned this when I was young, like really really young.
sooooo… which are the closest suburbs that still have coin operated parking meters?
What is a 'Woolworths Coin Kiosk'???
I wonder what sort of reader of this site can use this offer. I usually have at most $10 of shrapnel in my wallet.
I probably have a few hundred of shrapnel that collects in my change tin at home - don't carry shrapnel so at the end of the day it goes in a tin. My credit union also doesn't have a coin counter (so would have to bag it all), so if a WW near me had a coin kiosk and give extra credit, I'd use it.
Ah it's people like you wots depriving supermarkets of change. :)
No thanks Woolworths . I want my coins 🐔
Go to CBA ATM and withdraw coins…but anyway it's better to buy gift cards through cashrewards.
Does it take 5c coins
Another fine example of marketers who can't do mathematics.
Maths is correct, it is a 5% bonus on $100 spend, not a 5% discount.
Wording says bonus 5 percent, meaning an additional 5 percent of the original coin value. Perhaps this is more a question of English than maths?
Comments above clearly show that many people here fail their math. Bonus x% is NOT the same as x% discount. For example bonus 10% value is in fact only around 9% discount.
5% off $105 is $99.75, you are paying $100 for $105 value here which is only 4.76% off.
This is not a deal, considering:
1. converting my real money for limited WW Group gift card
2. You can get better discount 5% off WW gift card any time using CashRewards
I agree with your mathematical assessment of the value of the deal in total dollar terms and you're quite right to point out the advantages of the cash rewards deal however in English language terms believe the marketing department are using correct albeit tricky wording.
It's really just a confusion between the two English phrases "X% bonus" and "X% discount" which as you point out are not equivalent mathematically. As a simple example say a new package offers 25% bonus. That is equivalent to a 20% discount. Or two for one, which is a 100% bonus but is 50% discount.
More like WOW is finding more ways to drum up business thru confusion, obscurity, obsfication (sorry can't find a reason to think harder). Woolies ought to get back to respecting the customer a little, or they may do a ds or masters' fall in time.
Does it have to be 100 or can it just be any amount of loose change?
It can be any amount, $100 dollars is just an example.
This is good for when you're at the shops and 5 cents short to buy a chocolate bar. Put that 95 cents in & hoping they round up you'll get $1.
http://www.canberratimes.com.au/act-news/canberra-life/conni…
They should get woolies to donate 5% ontop!
thanks for sharing, but it seems 95/100 < 100/105…