Step-by-step explanation:
Let the opening price at the beginning be $x
According to the question,
[tex]x - \frac{5}{100} x = 61.75[/tex]
[tex] \frac{20x - x}{20} = 61.75[/tex]
[tex]19x = 1235[/tex]
[tex]x = 65[/tex]
$65 is the opening price.
