A piece of clothing with an original price of 480 yuan is now priced at 420 yuan. How much has the price of this piece of clothing been reduced?
一件原价480元的衣服，现售价为420元，这件衣服降价了百分之几？
<gadget id="calculator">480 - 420</gadget>
<output>60</output>

<gadget id="calculator">60 / 480</gadget>
<output>1/8 = around 0.125</output>

<result>1/8 = around 0.125</result>