Discount Rate = 1 –
Discount Rate = 1 – Sale Price/Original Price
17/20
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 $20 and a Sale Price of $17 = 15%
Note: Reduction in Price = $20 – $17 = $3
