What is discount rate for list price 1163 and sale price 1122

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 1163 and sale price 1122, let’s first put it in the formula

${\small\%}\; discount = \frac{1163 - 1122}{1163} \times 100$

${\small\%}\; discount = \frac{41}{1163} \times 100$

${\small\%}\; discount = 0.0353 \times 100$

${\small\%}\; discount = 3.53$

The discount rate for products with list price 1163 and sale price 1122 is 3.53%