A bag marked at $200 is sold for $120. The rate of discount is?  Choose the correct answer:	A) 10%	B) 25%	C) 20%	D) 50%	E) 40%
Rate of discount = 80/200 * 100= 
<gadget id="calculator">80/200 * 100</gadget>
<output>40</output>
40%   Answer is 40%
<result>E</result>
A bag marked at $200 is sold for $120. The rate of discount is?