To find out how much the discount is on an item that has a retail price of [tex]$1,995 and a discount rate of 15%, follow these steps:
1. Identify the retail price of the item, which is $[/tex]1,995.
2. Determine the discount percentage, which is 15%.
3. To find the discount amount, convert the percentage to a decimal by dividing by 100. This gives you [tex]\(0.15\)[/tex].
4. Multiply the retail price by this decimal to find the discount amount.
[tex]\[
\text{Discount Amount} = \text{Retail Price} \times \text{Discount Percentage (in decimal)}
\][/tex]
[tex]\[
\text{Discount Amount} = 1995 \times 0.15
\][/tex]
5. This multiplication results in:
[tex]\[
1995 \times 0.15 = 299.25
\][/tex]
Therefore, the discount amount is [tex]$\$[/tex]$299.25.
