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

Nov 28, 2016

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:

$p = \frac{N - O}{O} \cdot 100$ 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:

$p = \frac{12 - 60}{60} \cdot 100$

$p = - \frac{48}{60} \cdot 100$

$p = - \frac{4800}{60}$

$p = - 80$