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A man sells his new brand car for N420,000 at a gain of 15%. What...

Mathematics
JAMB 2015

A man sells his new brand car for N420,000 at a gain of 15%. What did it cost him?

  • A. N410,000
  • B. N365, 217
  • C. N157, 250
  • D. N257,000
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Correct Answer: Option B
Explanation

Cost Price:

Selling price = 100 : (100 + 15)

= 100 : 115

Cost Price

= 100 ÷ 115 of selling price (i.e N420,000)

= 100 ÷ 115 × N420,000

= N365,217.4

∴ Cost Price = N365, 217

There is an explanation video available below.

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Explanation Video

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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