What is discount rate for list price 1112 and sale price 1071

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 1112 and sale price 1071, let’s first put it in the formula

${\small\%}\; discount = \frac{1112 - 1071}{1112} \times 100$

${\small\%}\; discount = \frac{41}{1112} \times 100$

${\small\%}\; discount = 0.0369 \times 100$

${\small\%}\; discount = 3.69$

The discount rate for products with list price 1112 and sale price 1071 is 3.69%