What is discount rate for list price 1281 and sale price 1240

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 1281 and sale price 1240, let’s first put it in the formula

${\small\%}\; discount = \frac{1281 - 1240}{1281} \times 100$

${\small\%}\; discount = \frac{41}{1281} \times 100$

${\small\%}\; discount = 0.0320 \times 100$

${\small\%}\; discount = 3.20$

The discount rate for products with list price 1281 and sale price 1240 is 3.20%