A product is sold for $240 after a discount of 20%. What was the marked price?

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What’s inside this PDF?

Question: A product is sold for $240 after a discount of 20%. What was the marked price?

Options:

$300
$280
$250
$320

Correct Answer: $300

Solution:

Let the marked price be x. Then, selling price = x - 20% of x = 0.8x. Given selling price = $240, we have 0.8x = 240. Therefore, x = 240 / 0.8 = $300.

A product is sold for $240 after a discount of 20%. What was the marked price?

Practice Questions

A product is sold for $240 after a discount of 20%. What was the marked price?

$300
$280
$250
$320

Questions & Step-by-Step Solutions

A product is sold for $240 after a discount of 20%. What was the marked price?

Step 1: Understand that the product is sold for $240 after a discount of 20%.
Step 2: Let the marked price be represented by 'x'.
Step 3: Calculate the selling price after the discount. The selling price is 80% of the marked price because 100% - 20% = 80%.
Step 4: Write the equation for the selling price: Selling Price = Marked Price - Discount = x - 0.2x = 0.8x.
Step 5: Set up the equation with the given selling price: 0.8x = 240.
Step 6: Solve for 'x' by dividing both sides of the equation by 0.8: x = 240 / 0.8.
Step 7: Calculate the value: x = 300.
Step 8: Conclude that the marked price is $300.

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 based on the relationship between selling price and marked price.

A product is sold for $240 after a discount of 20%. What was the marked price?

What’s inside this PDF?

A product is sold for $240 after a discount of 20%. What was the marked price?

Practice Questions

Questions & Step-by-Step Solutions

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