SOLUTION: After an 8% discount from the list price,the sale price of a key chain was $18.40. What was the list price of the key chain

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Question 743643: After an 8% discount from the list price,the sale price of a key chain was $18.40. What was the list price of the key chain
Answer by tommyt3rd(5050) About Me  (Show Source):
You can put this solution on YOUR website!
L-list price
S-sale price
D-discount
D-8% of L so
D=0.08%2AL
The sale price is how much it costs after the discount:
L+-+D+=+S
Now we substitute in the known values and solve for L:
L-0.08L=18.40
0.92L=18.40
%280.92L%29%2F0.92=18.40%2F0.92
so L=$20.00