In this example, we use sprintf to format a string that includes floating-point numbers. The %.2f placeholder specifies that the number should be formatted with two decimal places. We calculate the discounted price by multiplying the price by the discount, subtracting it from the original price, and storing the result in $new_price. Then, we use sprintf to insert the values of $price and $new_price into the string, and display the resulting message using echo. In conclusion, the JText library in Joomla! provides powerful text manipulation and formatting functions for PHP developers. The sprintf method allows for easy formatting of strings with variables and control over decimal precision.