A bicycle is sold for $300 after a discount of 25%. What was the marked price?

A bicycle is sold for $300 after a discount of 25%. What was the marked price?

Step 1: Understand that the selling price is the price after the discount is applied.
Step 2: Let the marked price be represented by 'x'.
Step 3: Calculate the discount amount, which is 25% of the marked price. This can be written as 0.25x.
Step 4: The selling price after the discount is applied can be expressed as: Selling Price = Marked Price - Discount.
Step 5: Substitute the values into the equation: Selling Price = x - 0.25x.
Step 6: Simplify the equation: Selling Price = 0.75x.
Step 7: We know the selling price is $300, so set up the equation: 0.75x = 300.
Step 8: To find 'x', divide both sides of the equation by 0.75: x = 300 / 0.75.
Step 9: Calculate the value: x = 400.
Step 10: Conclude that the marked price of the bicycle is $400.

Percentage Discount – Understanding how to calculate the selling price after applying a percentage discount to the marked price.
Algebraic Manipulation – Using algebra to solve for the marked price by setting up an equation based on the relationship between selling price and marked price.