SOLUTION: Blank tapes are selling at 3.50 and are reduced at $1. What is the rate of discount?

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Question 254818: Blank tapes are selling at 3.50 and are reduced at $1. What is the rate of discount?
Answer by palanisamy(496) About Me  (Show Source):
You can put this solution on YOUR website!
Blank tapes rate = $3.50
Reduced rate = $1.
Reduced amount = 3.50-1 = 2.50
Rate of discount = (2.5/3.5)*100 = 71.43%