What is discount rate for list price 1042 and sale price 1001

The discount rate is used to calculate the discount offered on the list price of a product. It is calculated in terms of percentage

The following is the formula for calculating the discount rate,

To calculate the discount rate of a product with list price 1042 and sale price 1001, let’s first put it in the formula

${\small\%}\; discount = \frac{1042 - 1001}{1042} \times 100$

${\small\%}\; discount = \frac{41}{1042} \times 100$

${\small\%}\; discount = 0.0393 \times 100$

${\small\%}\; discount = 3.93$

The discount rate for products with list price 1042 and sale price 1001 is 3.93%