If a shopkeeper sells an item for $240 after applying a discount of 20%, what wa

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

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

Step 1: Understand that the shopkeeper sells an item for $240 after giving a discount of 20%.
Step 2: Let the original price of the item be represented by 'x'.
Step 3: When a 20% discount is applied, the selling price becomes 80% of the original price. This can be written as: Selling Price = x - 20% of x.
Step 4: 20% of x can be expressed as 0.2x. Therefore, the selling price can be rewritten as: Selling Price = x - 0.2x.
Step 5: Simplifying this gives us: Selling Price = 0.8x.
Step 6: We know the selling price is $240, so we can 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 right side: x = 300.
Step 9: Therefore, the original price of the item was $300.

Percentage and Discounts – Understanding how to calculate the original price from a selling price after a discount is applied.
Algebraic Manipulation – Using algebra to solve for the unknown variable (original price) in an equation.