If a shopkeeper sells an item for $240 after applying a discount of 20%, what was the original marked price? (2023)

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Q: If a shopkeeper sells an item for $240 after applying a discount of 20%, what was the original marked price? (2023)

Solution: Let the marked price be x. Selling Price = Marked Price - Discount = x - 0.2x = 0.8x. Thus, 0.8x = 240, so x = 300.

Steps: 9

Step 1: Understand that the shopkeeper sells an item for $240 after giving a discount of 20%.
Step 2: Let the original marked price be represented by 'x'.
Step 3: Calculate the discount amount. A 20% discount means the shopkeeper sells the item for 80% of the marked price.
Step 4: Write the equation for the selling price: Selling Price = Marked Price - Discount. This can be written as: Selling Price = x - 0.2x.
Step 5: Simplify the equation: Selling Price = 0.8x.
Step 6: Since the selling price is $240, set up the equation: 0.8x = 240.
Step 7: To find 'x', divide both sides of the equation by 0.8: x = 240 / 0.8.
Step 8: Calculate the value: x = 300.
Step 9: Conclude that the original marked price was $300.