What is discount rate for list price 3603 and sale price 3562

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 3603 and sale price 3562, let’s first put it in the formula

${\small\%}\; discount = \frac{3603 - 3562}{3603} \times 100$

${\small\%}\; discount = \frac{41}{3603} \times 100$

${\small\%}\; discount = 0.0114 \times 100$

${\small\%}\; discount = 1.14$

The discount rate for products with list price 3603 and sale price 3562 is 1.14%