WAEC Mathematics 2014 Theory — Question 11
Question 11 of 23 from the West African Examinations Council (WAEC) Mathematics 2014 Theory paper, with the correct answer and a full explanation.
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6(b). A television set was marked for sale at GH¢760.00 in order to make a profit of 20%. The television set was actually sold at a discount of 5%. Calculate, correct to 2 significant figures, the actual percentage profit.
Model answer
Marked price = Cost price × 1.20, so Cost Price = 760/1.20 = GH¢633.33 Selling price (after 5% discount) = 760×0.95 = GH¢722.00 Actual profit = SP−CP = 722.00−633.33 = GH¢88.67 Percentage profit = (88.67/633.33)×100% ≈ 14%
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