If a shopkeeper sells an item for $80 after a discount of 20%, what was the mark

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

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

Step 1: Understand that the marked price is the original price before any discount.
Step 2: Let the marked price be represented by 'x'.
Step 3: A 20% discount means the shopkeeper sells the item for 80% of the marked price.
Step 4: Write the equation for the selling price after the discount: Selling Price = Marked Price - Discount.
Step 5: The discount can be calculated as 20% of 'x', which is 0.20 * x.
Step 6: Therefore, the selling price can be expressed as: Selling Price = x - (0.20 * x) = 0.80x.
Step 7: We know the selling price is $80, so we set up the equation: 0.80x = $80.
Step 8: To find 'x', divide both sides of the equation by 0.80: x = $80 / 0.80.
Step 9: Calculate the value: x = $100.
Step 10: Conclude that the marked price is $100.

Percentage Discount Calculation – Understanding how to calculate the selling price after applying a percentage discount to the marked price.
Algebraic Manipulation – Using algebra to set up and solve equations based on the relationship between marked price, discount, and selling price.