A store is having a 20% off sale. The sale price of an item is $185. What is the list price?
.80x = 185
x = 185/.8 = ....
Well, it seems like we have a comedian here. A store having a sale? That's unheard of! But let's solve this little riddle. If the sale price of an item is $185 and there's a 20% off, we can say that 80% of the original price equals $185. So, let's do some math to uncover the list price. We take $185 and divide it by 0.80 to find out that the list price is $231.25! Ta-da! Now you know the secret code!
To find the list price, you first need to calculate the discount amount.
Step 1: Calculate the discount amount
Discount = Sale price × Discount rate
Discount = $185 × 20% = $185 × 0.2 = $37
Step 2: Calculate the original price
List price = Sale price + Discount amount
List price = $185 + $37 = $222
Therefore, the list price of the item is $222.
To find the list price, we can use the formula:
List Price = Sale Price / (1 - Discount Percentage)
In this case, the sale price is $185, and the discount percentage is 20%.
First, convert the discount percentage to decimal form by dividing it by 100:
Discount Percentage = 20 / 100 = 0.20
Now, substitute the values into the formula:
List Price = $185 / (1 - 0.20)
To calculate the result, subtract the discount percentage from 1, and then divide the sale price by the resulting value:
List Price = $185 / 0.80
Simplifying the expression gives us:
List Price = $231.25
Therefore, the list price of the item is $231.25.