JAMB - Mathematics (1981 - No. 16)
By selling an article for N45.00 a man makes a profit of 8%. For how much should he have sold it in order to make a profit of 32%?
N180.00
N59.00
N63.00
N58.00
N55.00
Explanation
When C.P = N45.00 at 8% profit
C.P = \(\frac{100}{108}\) x 45
at profit of 32%, S.P = \(\frac{132}{100}\) x c.p
= \(\frac{132}{100}\) x \(\frac{100 \times 45}{108}\)
= \(\frac{5940}{108}\)
= N55.00
C.P = \(\frac{100}{108}\) x 45
at profit of 32%, S.P = \(\frac{132}{100}\) x c.p
= \(\frac{132}{100}\) x \(\frac{100 \times 45}{108}\)
= \(\frac{5940}{108}\)
= N55.00
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