The price of a coat in a certain store is $500. If the price of the coat is to be reduced by $250, by what percent is the price to be reduced?
Choose the correct answer:
A) 10 %
B) 15 %
C) 50 %
D) 25 %
E) 30 %

Rationale: "price of a coat in a certain store = $ 500 the price of the coat is to be reduced by $ 250 % change = ( final value - initial value ) * 100 / initial value % reduction = ( reduction in price ) * 100 / initial value i . e . % reduction = ( 250 ) * 100 / 500 = 50 % answer : option c"
Answer: C