Question 5603
Alright. Let's begin with the price that we don't know. Let's call it P.

The problem says that they discounted 20%, right? You might now ask 20% of what? 20% of the original price. That translates to 0.20*P, the discount amount.

Original price MINUS discount amount equals the discounted price.

AKA, P - 0.20P = $48.00

         0.80P = $48.00

             P = $60.00

You're exactly right.