Final answer:
The discount amount is calculated by subtracting the sale price from the original price, which is $880 for this item. The percentage discount is then found by dividing the discount amount by the original price and multiplying by 100, resulting in a 44% discount.
Step-by-step explanation:
To calculate the percentage discount, we need to first find the difference between the original price and the sale price. The formula to calculate the discount is:
Discount Amount = Original Price - Sale Price.
For this item:
Discount Amount = $2,000 - $1,120 = $880.
Next, we calculate the percentage discount using the formula:
Percentage Discount = (Discount Amount / Original Price) × 100.
For this item:
Percentage Discount = ($880 / $2,000) × 100 = 44%.
So, the percentage of the discount offered on the item is 44%.