Final answer:
To calculate the percentage of the discount, subtract the sale price from the original price, divide this by the original price, and multiply by 100. For a gold chain discounted from $120 to $96, the percentage of the discount is 20%.
Step-by-step explanation:
The percentage of the discount can be found by taking the difference in the original price and the sale price, then dividing that by the original price, and finally, multiplying by 100 to get the percentage.
To calculate the difference, we subtract the sale price ($96) from the original price ($120), which gives us the discount amount:
$120 - $96 = $24
Next, we divide the discount amount by the original price and multiply by 100 to find the percentage:
($24 ÷ $120) × 100 = 20%
So, the percentage of the discount on the gold chain is 20%.