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 N10,000, find the value of x.
A
60
B
50
C
40
D
20
Verified Correct Answer: B.
Step-by-Step Mathematical Solution
C.P = N50000
Loss = x%
= \(\frac{\text{x}}{100}\) x 50000 = 500x
S.P = C.P - Loss = 50,000 - 500x
Profit = 40%
= \(\frac{40}{100}\) x (50000 - 500x) = 10,000
\(\frac{2}{5}\) x (50000 - 500x) = 10,000
100,000 - 1000x = 50,000
1000x = 50000
x = 50
Source: WAEC / JAMB / NECO Classroom Archive (Record #69865)