SOLUTION: After a discount of $267.25, a distributor paid $895.75 to purchase an item from a manufacturer. What rate of discount was applied to the purchase? (Round your answer to 1 decimal

SOLUTION: After a discount of $267.25, a distributor paid $895.75 to purchase an item from a manufacturer. What rate of discount was applied to the purchase? (Round your answer to 1 decimal

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Question 1016536: After a discount of $267.25, a distributor paid $895.75 to purchase an item from a manufacturer. What rate of discount was applied to the purchase? (Round your answer to 1 decimal place.)

Answer by Cromlix(4381) (Show Source): You can put this solution on YOUR website!
Hi there,
Purchase price + discount = Total price
$895.75 + $267.25 = $1163
(Discount/Total price) x 100
(267.25/1163) x 100
= 22.98%
= 23% discount
Hope this helps :-)
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