Oscar purchased a new hat that was on sale for $5.06. The original price was $9.20. What percentage discount was the sale price?

The percentage discount is the reduction in price divided by the original price. The difference between original price and sale price is:
$9.20 − $5.06 = $4.14
The percentage discount is this difference divided by the original price:
$4.14 ÷ $9.20 = 0.45
Convert the decimal to a percentage by multiplying by 100%:
0.45 × 100% = 45%.