A shopkeeper sells a product for $300 after applying a discount of 25%. What was

A shopkeeper sells a product for $300 after applying a discount of 25%. What was the marked price?

A shopkeeper sells a product for $300 after applying a discount of 25%. What was the marked price?

Step 1: Understand that the shopkeeper sells the product for $300 after giving a discount of 25%.
Step 2: Let the marked price be represented by 'x'.
Step 3: Calculate the amount of discount: 25% of 'x' is 0.25 * x.
Step 4: The selling price after discount is the marked price minus the discount: Selling Price = Marked Price - Discount.
Step 5: Write the equation: 300 = x - 0.25x.
Step 6: Simplify the equation: 300 = 0.75x.
Step 7: To find 'x', divide both sides by 0.75: x = 300 / 0.75.
Step 8: Calculate the value: x = 400.

Percentage Discount Calculation – Understanding how to calculate the final price after applying a percentage discount to the marked price.
Algebraic Manipulation – Using algebra to solve for the unknown variable (marked price) in an equation.