JAMB Mathematics 2019 Objective — Question 18
Question 18 of 40 from the Joint Admissions and Matriculation Board (JAMB) Mathematics 2019 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. 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
From 5% profit: cost price = 60,000/1.05 ≈ ₦57,142.86. For 26% profit: selling price = 1.26×57,142.86 ≈ ₦72,000. (Alternative shortcut: since 105%→₦60,000, then 126%→(60,000×126)/105 = ₦72,000.)
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