SOLUTION: A dealer altered his discount from 25% to 20 % . By what % was the selling price altered ?

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Question 1040588: A dealer altered his discount from 25% to 20 % . By what % was the selling price altered ?
Found 2 solutions by josmiceli, MathTherapy:
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
selling price with 1st discount:
+p+-+.25p+
Selling price with discount on the 1st selling price:
+%28+p+-+.25p+%29+-+.2%2A%28+p+-+.25p+%29+
+p+-+.25p+-+.2p+%2B+.05+
+.55p+%2B+.05+
-----------------
+p+-%28+.55p+%2B+.05+%29+=+.45p+-+.05+
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The selling price changed by 45% minus $.05
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I could be misreading this. Did he do a discount on
the discounted price? Or is he replacing the 1st discount
with a different discount?
Ignore my solution if you think the 2nd choice applies.
Sorry for any confusion

Answer by MathTherapy(10555) About Me  (Show Source):
You can put this solution on YOUR website!
A dealer altered his discount from 25% to 20 % . By what % was the selling price altered ?
Old discount (25%), for old selling price of .75

New (altered) discount (20%), for new selling price of .8

Percent change in selling price: matrix%281%2C3%2C+%28.8+-+.75%29%2F.75%2C+or%2C+.06666%29 ≈ highlight_green%28matrix%281%2C2%2C+6.67%2C+%22%25%22%29%29