WAEC 2010 Mathematics · Question 13

Bola sold an article for N6,900.00 and made a profit of 15%. If he sold it for N6,600.00 he would make a

Options

A.profit of 13%
B.loss of 12%
C.Profit of 10%
D.loss of 5%

Answer: C. Profit of 10%

Explanation written with AI and checked against the answer key

Analyze the question: Selling at N6,900 gives a 15% profit. We need the cost price (CP) first, then find the profit or loss when the selling price (SP) is N6,600. Concept: SP = CP × (1 + profit%/100) Percentage profit = (SP − CP)/CP × 100 Solution: Step 1: Find the cost price. 6,900 = CP × 1.15 CP = 6,900 ÷ 1.15 = N6,000 Step 2: Compare the new selling price with the cost price. New SP = N6,600 Profit = 6,600 − 6,000 = N600 Step 3: Find the percentage profit. % profit = (600/6,000) × 100 = 10% Answer: Selling at N6,600 gives a profit of 10%. Tip: In "sold at X% profit" questions, always find the cost price first, because percentages are calculated on the CP. A quick check: 15% of 6,000 is 900, and 6,000 + 900 = 6,900, which confirms the CP.

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