Let's denote the marked price of the refrigerator by $M$.

• The dealer bought the refrigerator for $11515.
• The dealer gains 20% on his cost price, so his selling price, $S$, is: $S = 11515 \times 1.20 = 13818$
• The dealer sells the refrigerator after giving a 16% discount on the marked price. So, the selling price is 84% of the marked price: $S = 0.84 \times M$

Since the selling price is also $13818, we have the equation: $13818 = 0.84 \times M$

Now, solve for $M$: $M = \frac{13818}{0.84} = 16450$

Thus, the marked price of the refrigerator is $16,450.

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Do you have any questions or want more details?

Here are 5 related questions:

1. How do we calculate the cost price, selling price, and profit percentage?
2. What would the marked price be if the discount were 20% instead of 16%?
3. How does the discount percentage affect the marked price and selling price?
4. How can you calculate the discount percentage if the cost and selling prices are known?
5. What are some other methods to calculate profit margins in business?

Tip: Always verify whether the gain or loss percentage is based on the cost price or selling price before calculating.