If a shopkeeper sells a product for $80 after a discount of 20%, what was the ma

If a shopkeeper sells a product for $80 after a discount of 20%, what was the marked price?

If a shopkeeper sells a product for $80 after a discount of 20%, what was the marked price?

Step 1: Understand that the selling price after a discount is $80.
Step 2: Know that the discount given is 20% of the marked price.
Step 3: Let the marked price be represented as 'x'.
Step 4: Calculate the selling price using the formula: Selling Price = Marked Price - Discount.
Step 5: The discount can be expressed as 20% of 'x', which is 0.20x.
Step 6: Therefore, the selling price can be rewritten as: Selling Price = x - 0.20x.
Step 7: Simplify the equation: Selling Price = 0.80x.
Step 8: Set the selling price equal to $80: 0.80x = $80.
Step 9: To find 'x', divide both sides of the equation by 0.80: x = $80 / 0.80.
Step 10: Calculate the result: x = $100. This means the marked price is $100.

Percentage Calculation – Understanding how to calculate discounts and selling prices based on marked prices.
Algebraic Manipulation – Using algebra to solve for unknown variables in equations.