New price = 64.50
Old price = 40
Difference = 24.50
Percent discount is calculated as follows;
[tex]\begin{gathered} \text{Discount}=\frac{\text{difference}}{New\text{ price}}\times100 \\ \text{Discount}=\frac{24.5}{64.5}\times100 \\ \text{Discount}=\frac{24.5\times100}{64.5} \\ \text{Discount}=\frac{2450}{64.5} \\ \text{Discount}=37.9844\ldots \\ \text{Discount}\approx37.98 \end{gathered}[/tex]The shoes were bought for $40.00 as against the regular price (new price) of $64.50. This means there was a 37.98% reduction from the $64.50 price.
The percent discount is therefore 37.98%.
