False advertising or not?

You can call me cheap or picky or whatever, but when I see something advertised as discounted by a certain percent, I want that item discounted by that percent. Not some rough estimate made by a monkey.
(sorry about the quality and those lines… no idea what made them appear)
The tag for the above ring clearly says 60% off it also states that the original price was $29.95. It doesn’t take a genius to work out that $19.95 is not 60% off. it’s onyl 30%. So is it wrong of me to ask for the ring at the price of $11.98 (with the proper 60% discount).
I asked about it and aparently (according to the staff member) it is not false advertising adn the ring is $19.95. That’s one custoemr they’ve lost and hopefully more.
Store: Bevilles, Highpoint Shopping Centre, Australia