Question:

Calculating the selling price of an item/asset if the the item/asset has been sold at a discount?
eg. an item is sold for R460 after a discount of 20%.

Answer:

A 20 % discount means that the amount left should be 80% of the full price. Therefore the full price = R460 / 0.80 = R575
You can test the answer by doing the following: R575 x 0.80 = 460 or R575 x .20 = R115. So R575 – R115 = R460.