The price of a dress is marked down from $60 to $12. What is the rate of discount?

1 Answer
Nov 28, 2016

Answer:

This was a -80% change or an 80% discount.

Explanation:

The percent change, or in this case the rate of discount, is calculated using the formula:

#p = (N - O)/O * 100# where #p# is the percent change, #N# is the new price and #O# is the old price.

In this problem we are given the New price ($12) and the Old price ($60) and asked to calculate the percent change. Substituting these values into the formula and solving gives:

#p = (12 - 60)/60*100#

#p = -48/60*100#

#p = -4800/60#

#p = -80#