Percentage Discount given an Original Price of $240,000 and a Sale Price of $202,500

Discount Rate = 1 –  
Discount Rate = 1 – 0.8438
Discount Rate = 0.1562
0.1562 Converted to a Percent: 0.1562 = 15.62%
Percentage Discount given an Original Price of $240,000 and a Sale Price of $202,500 = 15.62%
Note: Reduction in Price = $240,000 – $202,500 = $37,500