Percentage Discount given an Original Price of $500 and a Sale Price of $230

Discount Rate = 1 –  
Discount Rate = 1 – 0.46
Discount Rate = 0.54
0.54 Converted to a Percent: 0.54 = 54%
Percentage Discount given an Original Price of $500 and a Sale Price of $230 = 54%
Note: Reduction in Price = $500 – $230 = $270