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JAMB Mathematics 2000 Question 8

Question 8

Commercial Arithmetic

Audu bought an article for N50 000 and sold it to Femi at a loss of x%. Femi later sold the article to Oche at a profit of 40%. If Femi made a profit of N10000, find the value of x.

  1. A.60
  2. B.50
  3. C.40
  4. D.20
Show the answer and explanation

Answer: B (50)

Explanation

Femi's 40% profit was N10 000, so he paid 10 000 ÷ 0.4 = N25 000. Audu lost 50 000 − 25 000 = N25 000, which is 50% of N50 000.