Question

The Bucio family wants to buy a new car which has a list price of $18,000. The salesperson is offering a discount of $3,000. What is the rate of the discount? ( rounded to the nearest whole percent)

Answer 1

Discount Rate=17%

Explanation:

We know the price and discount of the car. The formula for calculating the discount when rate is given is:

`Discount=Listed\ price*discount\ rate`

We know two quantities out of three, so putting in the known values:

`3000=18000*rate\\rate=(3000)/(18000)\\Rate=16.67%`

The rate rounded off to nearest percent will give us:

17 percent.

So the discount rate is 17% ..