If a shopkeeper sells an item for $240 after a discount of 20%, what was the mar

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

Options:

Correct Answer: $300

Solution:

Let the marked price be x. Selling Price = Marked Price - Discount = x - 0.2x = 0.8x. So, 0.8x = 240. Therefore, x = 240/0.8 = $300.

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

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

Step 1: Understand that the selling price after a discount is $240.
Step 2: Know that the discount given is 20% of the marked price.
Step 3: Let the marked price be represented as 'x'.
Step 4: Calculate the selling price using the formula: Selling Price = Marked Price - Discount.
Step 5: Since the discount is 20% of 'x', we can write it as: Discount = 0.2x.
Step 6: Substitute the discount into the selling price formula: Selling Price = x - 0.2x.
Step 7: Simplify the equation: Selling Price = 0.8x.
Step 8: Set the selling price equal to $240: 0.8x = 240.
Step 9: Solve for 'x' by dividing both sides by 0.8: x = 240 / 0.8.
Step 10: Calculate the value: x = 300. Therefore, 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, marked price, and discount.