Question

In the following exercises, find (a) the amount of discount and (b) the discount rate (Round to the nearest tenth of a percent if

needed.)

Larry and Donna bought a sofa at the sale price of \(1,344. The original price of the sofa was \)1,920.

Short answer

Part (a) Discount amount is $576.

Part (b) The discount rate is 30%.

Step-by-step solution

Part (a) Step 1. Given information.

The sale price of the sofa is $1,344 and the original price of the sofa was $1,920.

Part (b) Step 2. Find the amount of discount.

Subtract sale price from the original price to get the discount amount.

$$\begin{gathered} Discountamount=originalprice-saleprice \\ =1920-1344 \\ =576 \end{gathered}$$

So, the discount amount is $576.

Part (b) Step 1. Find the discount rate.

Now, calculate the discount rate by using the following formula:

$$\begin{gathered} \mathrm{Discount}\mathrm{rate}=\frac{\mathrm{Discount}\mathrm{amount}}{\mathrm{Original}\mathrm{price}}\times 100\% \\ =\frac{576}{1920}\times 100\% \\ =30\% \end{gathered}$$

So, the required discount rate is 30%.