Question 16
Commercial ArithmeticBala sold an article for ₦6,900.00 and made a profit of 15%. Calculate his percentage profit if he had sold it for ₦6,600.00.
- A.5%
- B.10%
- C.12%
- D.13%
Show the answer and explanation
Answer: B (10%)
Explanation
Cost price = 6,900 ÷ 1.15 = ₦6,000. Selling at ₦6,600 gives a profit of ₦600, which is 600/6,000 × 100 = 10%.