SOLUTION: A product is marked up 20%. The product doesn't sell, so the store owner then discounts it by 20%. In the end the product sells for $300 dollars less than the original price. What

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: A product is marked up 20%. The product doesn't sell, so the store owner then discounts it by 20%. In the end the product sells for $300 dollars less than the original price. What       Log On


   

Question 981184: A product is marked up 20%. The product doesn't sell, so the store owner then discounts it by 20%. In the end the product sells for $300 dollars less than the original price. What was the original price?
I tried this but I can't seem to get the answer: (1.20x)0.80 = x-300
I really need help. Thank you.
Found 2 solutions by josgarithmetic, MathTherapy:
Answer by josgarithmetic(39630) About Me  (Show Source):
You can put this solution on YOUR website!
Let p be the original price.

Mark-up 20%.
p%2A%281.20%29

Discount 20%.
This is 80% of the marked-up price.
p%281.20%29%280.80%29

"In the end, $300 less than p".
(?)
Only sensible understanding is "in the end" means the result of the described 20% discount.
%280.8%29%281.2%29p=p-300
-
%280.8%29%281.2%29p-p=-300
p-0.8%2A1.2p=300
highlight%28p=7500%29


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You had a correct equation. All the analysis and then you did not just do the simple arithmetic to finish?

Answer by MathTherapy(10557) About Me  (Show Source):
You can put this solution on YOUR website!

A product is marked up 20%. The product doesn't sell, so the store owner then discounts it by 20%. In the end the product sells for $300 dollars less than the original price. What was the original price?
I tried this but I can't seem to get the answer: (1.20x)0.80 = x-300
I really need help. Thank you.
Original price: highlight_green%28%22%24%227500%29

You have the correct equation. You just need to solve for x.