To find the percentage discount offered, we can use the following equation:
\[ \text{Percentage Discount} = \left( \frac{\text{Discount Amount}}{\text{Retail Price}} \right) \times 100 \]
Given:
- Retail Price = $475
- Discount Amount = $45
Now, we can plug the values into the equation:
\[ \text{Percentage Discount} = \left( \frac{45}{475} \right) \times 100 \]
Calculating the fraction:
\[ \frac{45}{475} = 0.0947368421 \text{ (approximately)} \]
Now, multiplying by 100 to convert it to a percentage:
\[ 0.0947368421 \times 100 \approx 9.47368421 \]
Rounding to the hundredths place, we get:
\[ \text{Percentage Discount} \approx 9.47% \]
Thus, the solution is:
The percentage discount offered is 9.47%.