Discount Rate = 1 –
Discount Rate = 1 – Sale Price/Original Price
9/16
Discount Rate = 1 – 0.5625
Discount Rate = 0.4375
0.4375 Converted to a Percent: 0.4375 = 43.75%
Percentage Discount given an Original Price of $16 and a Sale Price of $9 = 43.75%
Note: Reduction in Price = $16 – $9 = $7