Question

Ian bought a discounted item for $50, if it was originally $75. What was the discount rate ? round to the nearest percent

Answer 1

Discount rate=33%

Explanation:

Step 1

Determine the discounted amount as shown;

A=I-F

where;

A=discounted amount

I=initial price/original price

F=final price after discount

In our case;

A=unknown

I=$75

F=$50

replacing;

A=(75-50)=25

The discounted amount=$25

Step 2

Determine the discount rate using the formula;

Discount rate=(discount amount/original amount)×100

Discount rate=(25/75)×100=33.33%

Discount rate=33%