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JAMB Mathematics 1980 Question 5

Question 5

Commercial Arithmetic

When a dealer sells a bicycle for ₦81 he makes a profit of 8%. What did he pay for the bicycle?

  1. A.₦73
  2. B.₦74.52
  3. C.₦75
  4. D.₦75.52
  5. E.₦87.48.
Show the answer and explanation

Answer: C (₦75)

Explanation

₦81 is 108% of the cost price, so the cost is 81 × 100/108 = ₦75.