Question

James paid $237.50 for a DVD player that was priced originally at $250.00. What was the discount rate?Select one: a. 10% b.5% с.3% d. 7%

Answer 1

Answer: B. 5%

The discount for a price is computed using the following formula:

`\text{ sale price }=\text{ original price}(1-\text{ percent off})`

From the given, we know that:

Sale price = $237.50

Original price = $250.00

Substitute these to the formula then solve for the percent off:

`\begin{gathered} 237.50=250.00(1-\text{percent off}) \\ (237.50)/(250.00)=1-\text{ percent off } \\ \text{ percent off }=1-(237.50)/(250.00) \\ \text{ percent off }=0.05*100=5\% \end{gathered}`

Therefore, the discount rate was 5%.