5% off $100 = $95. You save $5.
Equation: $100 − (5% × $100) = $100 − $5 = $95.
Another way to read it: you pay 95% of the original price — that's $95.
$95. The discount is $5 and the final price you pay is $95.
You pay $95 (before tax). That's $100 minus a $5 discount.