A shirt originally priced at $60 is first discounted by 20%, and then the new price is increased by 15%. What is the final price of the shirt?

✓ Correct Answer: Option B

Initial discount: $60 * (1 - 0.20) = $60 * 0.80 = $48. Then, increase by 15%: $48 * (1 + 0.15) = $48 * 1.15 = $55.20.