Discount Rate = 1 –
Discount Rate = 1 – Sale Price/Original Price
550.40/860
Discount Rate = 1 – 0.64
Discount Rate = 0.36
0.36 Converted to a Percent: 0.36 = 36%
Percentage Discount given an Original Price of $860 and a Sale Price of $550.40 = 36%
Note: Reduction in Price = $860 – $550.40 = $309.60