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%?
 

  • A N180.00
  • B N59.00
  • C N63.00
  • D N58.00
  • E N55.00
jamb 1981mathematics

The correct answer is E. N55.00

If the selling price of N45.00 includes an 8% profit, then the cost price of the article is 100% of the cost, or 100/108 * N45.00 = N41.67 approximately. 

To make a profit of 32%, he should have sold it for 132/100 * N41.67 = N55.00 approximately. 

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