JAMB Mathematics 2021 Objective — Question 33

Question 33 of 40 from the Joint Admissions and Matriculation Board (JAMB) Mathematics 2021 Objective paper, with the correct answer and a full explanation.

33. If selling an article for #81, a trader makes a profit of 8%, determine the cost price of the article (a) #75 (b) #75.52 (c) #74.52 (d) #74

A. #75Correct
B. #75.52
C. #74.52
D. #74

Explanation

%profit = (SP-CP)/CP × 100. 8 = (81-CP)/CP × 100, so 0.08CP = 81 - CP, giving 1.08CP = 81, CP = 81/1.08 = #75.

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