JAMB Mathematics 2007 Objective — Question 5
Question 5 of 50 from the Joint Admissions and Matriculation Board (JAMB) Mathematics 2007 Objective paper, with the correct answer and a full explanation.
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A man made a profit of 5% when he sold an article for #60,000.00. How much would he have to sell the article to make a profit of 26%?
- A. #72,000Correct
- B. #70,000
- C. #68,000
- D. #65,000
Explanation
Cost price = 60,000/1.05 = #57,142.86. Selling price for 26% profit = 1.26 x 57,142.86 = #72,000.
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