Bala sold an article for #6,900.00 and made a profit of 15%. Calculate his percentage profit if he had sold it for N6,600.00.
A
5%
B
10%
C
12%
D
13%
Verified Correct Answer: B.
Step-by-Step Mathematical Solution
15 = (\(\frac{6,900 - C.P \times 100}{C.P}\))
15 C.P = 690000 - C.P 100
C.P = \(\frac{690000}{115}\)
C.P = N6,000
%profit = \(\frac{6,600 - 6,000}{6,000}\) x 100
= \(\frac{600}{6,000}\) x 100
= 10%
Source: Myschool Past Questions Archive (Record #57203)