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Is it possible to create multiple action for price rules? Like I am setting a 5% Discounts for customers but the discount is capped at $250.00 When the purchased is greater than $5000.00? Is this possible? TIA.

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By default, Its not possible to set Limit for Maximum discount amount in case of setting discount in percent (%).

You can check applyRule function in Magento\SalesRule\Model\RulesApplier class to extend this for your requirement.

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