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Suits at a local clothing store are discounted 20%. Despite the discount, the store owner enjoys a net profit (discount price minus cost) equal to 60% of the cost of the suits. If the suits cost the clothing store owner $200 each, what was the prediscount price of each suit?

The answer key says..
x=the prediscount price of a suit
0.8x= discount price


I don't get where the 0.8 in 0.8x came come the discount price =0.8??

WAIT,I think I got it!
But please check my reasoning..

x-0.2x=discount price
1-0.2=0.8!!!!! Correct????

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