Longman Dictionary of Contemporary English homepage

deduction

 noun
     
de‧duc‧tion [uncountable and countable]
1 the process of using the knowledge or information you have in order to understand something or form an opinion, or the opinion that you form:
Children will soon make deductions about the meaning of a word.
2 the process of taking away an amount from a total, or the amount that is taken away:
After deductions for tax etc, your salary is about £700 a month.
Definition from the Longman Dictionary of Contemporary English
Advanced Learner's Dictionary.

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