Discount Rate = 1 –
Discount Rate = 1 – Sale Price/Original Price
7,140/8,400
Discount Rate = 1 – 0.85
Discount Rate = 0.15
0.15 Converted to a Percent: 0.15 = 15%
Percentage Discount given an Original Price of $8,400 and a Sale Price of $7,140 = 15%
Note: Reduction in Price = $8,400 – $7,140 = $1,260