The price of a coat in a certain store is $500. If the price of the coat is to be reduced by $350, by what percent is the price to be reduced?	Choose the correct choice from the following answers
A) 70 %
B) 15 %
C) 20 %
D) 25 %
E) 30 %

Rationale: "price of a coat in a certain store = $ 500 the price of the coat is to be reduced by $ 350 % change = ( final value - initial value ) * 100 / initial value % reduction = ( reduction in price ) * 100 / initial value i . e . % reduction = ( 350 ) * 100 / 500 = 70 % answer : option a"
Answer: A