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Unilorin Post-UTME Mathematics 2014 (Model questions) Question 33

Question 33

Commercial Arithmetic

A bookshop had 650 copies of a book for sale. The books were marked at ₦75 per copy in order to make a profit of 30%. A book seller bought 300 copies at 5% discount. If the remaining copies are sold at ₦75 each. Calculate the percentage profit the bookshop would make on the whole?

  1. A.18%
  2. B.20%
  3. C.27%
  4. D.16%
Show the answer and explanation

Answer: C (27%)

Explanation

Cost = 650 × 75 ÷ 1.3 = ₦37,500. Sales = 300 × 75 × 0.95 + 350 × 75 = ₦47,625. Profit = 10,125/37,500 = 27%.