What is discount rate for list price 1629 and sale price 1588

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 1629 and sale price 1588, let’s first put it in the formula

${\small\%}\; discount = \frac{1629 - 1588}{1629} \times 100$

${\small\%}\; discount = \frac{41}{1629} \times 100$

${\small\%}\; discount = 0.0252 \times 100$

${\small\%}\; discount = 2.52$

The discount rate for products with list price 1629 and sale price 1588 is 2.52%