A man made a profit of 5% when he sold an article for N60,000.00. How much would he have sell the article to make a profit of 26%
A
N68,000
B
N72,000
C
N65,000
D
N70,000
Verified Correct Answer: B.
Step-by-Step Mathematical Solution
5% profit = 100 + 5 = 105%
26% profit = 100 + 26 = 126%
∴ 105% → N60,000
1% → \(\frac{60000}{105}\)
126% = \(\frac{60000}{105}\) x \(\frac{126}{1}\)
= N72,000.
Source: Myschool Past Questions Archive (Record #9241)