Question

The net price of a refrigerator is $455 when a 30% discount is allowed. What is its list price?

I got $318.50. Is this correct?

Answer 1

The list price is $650. Here is how you get it:

Let L=the list price
L-0.3L=455
0.7L=455
L=455/0.7
L=$650

Answer 2

but 650*.3 doesnt equal 455

Answer 3

The net price is the discounted amount which means the list pric must be higher. Here is how it works:

($650)(0.3)=$195 which is the discount - this is subtracted from the list price to get the net as follows:

$650-195=$455