here is a link to a jsfiddle if you would like to play with it yourself
Using javascript and html only. This will update the textbox with the value selected onchange.
By setting the onchange attribute on the select tag, you register the updateInput() function as a listener to the onchange event.
Then inside the function you can use document.getElementsByName() to access the elements and manipulate their values. Notice that document.getElementsByName() returns an array-like collection of elements, therefore requiring us to select the first element like so
document.getElementsByName("elementNameGoesHere")[0]
index of the element we want to select goes here --------^
<select class="select" name="discount" onchange="updateInput()">
<option value="5" selected>5% discount</option>
<option value="10">10% discount</option>
<option value="20">20% discount</option>
</select>
<select class="select" name="cost" onchange="updateInput()">
<option value="500" selected>$500</option>
<option value="100">$100</option>
<option value="20">$20</option>
</select>
<input type="text" name="price" value="">
<script>
function updateInput(){
var discount = document.getElementsByName("discount")[0].value;
var cost = document.getElementsByName("cost")[0].value;
document.getElementsByName("price")[0].value = cost - (cost * (discount / 100));
}
</script>
here is a link to a jsfiddle if you would like to play with it yourself