A bicycle is sold for $120 after allowing a discount of 20%. What was the marked

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Question: A bicycle is sold for $120 after allowing a discount of 20%. What was the marked price?

Options:

Correct Answer: $140

Solution:

Let the marked price be x. Selling Price = Marked Price - Discount = x - 0.2x = 0.8x. 0.8x = 120, so x = 120/0.8 = 150.

A bicycle is sold for $120 after allowing a discount of 20%. What was the marked price?

A bicycle is sold for $120 after allowing a discount of 20%. What was the marked price?

Step 1: Understand that the selling price of the bicycle is $120 after a discount of 20%.
Step 2: Let the marked price be represented by 'x'.
Step 3: Calculate the discount amount. Since the discount is 20%, the amount of discount is 0.2 times the marked price, which is 0.2x.
Step 4: The selling price is the marked price minus the discount. So, Selling Price = Marked Price - Discount, which means 120 = x - 0.2x.
Step 5: Simplify the equation. This can be written as 120 = 0.8x.
Step 6: To find the marked price 'x', divide both sides of the equation by 0.8. So, x = 120 / 0.8.
Step 7: Calculate the value of x. 120 divided by 0.8 equals 150.
Step 8: Therefore, the marked price of the bicycle is $150.

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.