In the year 2008, a company made $8.6 million in profit. For each consecutive year after that, their profit increased by 10%. Ho
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The sale price S (in dollars) of an item is given by the formula
S=L−rL , where L is the list price (in dollars) and r is the discount rate.
Since, S = L -rL
rL = L -S
r =
r =
Since, the listed price of the shirt is $30, we have to find the discount rate.
Therefore, r = is the discount rate.