A shopkeeper sells an article for $240 after allowing a discount of 20%. What wa

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Question: A shopkeeper sells an article for $240 after allowing a discount of 20%. What was the marked price?

Options:

Correct Answer: $300

Solution:

Let the marked price be x. Then, 240 = x - 0.2x => 240 = 0.8x => x = 240/0.8 = $300.

A shopkeeper sells an article for $240 after allowing a discount of 20%. What was the marked price?

A shopkeeper sells an article for $240 after allowing a discount of 20%. What was the marked price?

Step 1: Understand that the shopkeeper sells an article for $240 after giving a discount of 20%.
Step 2: Let the marked price (the original price before discount) be represented by 'x'.
Step 3: When a 20% discount is given, the selling price becomes 80% of the marked price. This can be written as: Selling Price = Marked Price - Discount.
Step 4: Since the discount is 20% of the marked price, we can express it as: Discount = 0.2 * x.
Step 5: Therefore, the selling price can also be expressed as: Selling Price = x - 0.2x = 0.8x.
Step 6: We know the selling price is $240, so we can set up the equation: 0.8x = 240.
Step 7: To find 'x', divide both sides of the equation by 0.8: x = 240 / 0.8.
Step 8: Calculate the value: x = 300.
Step 9: Therefore, the marked price is $300.

Percentage Discount – Understanding how to calculate the final selling price after applying a percentage discount to the marked price.
Algebraic Manipulation – Using algebra to isolate variables and solve for the marked price based on the given selling price and discount.