Question 7
(a) The marked price for an item with a profit of 15% is N 60, 000.00. If the item was sold at a discount of 5%, calculate, correct to one decimal place, the percentage profit made on the transaction.
(b) Sarah has N15.00 and Bobo has N39.00. How much must Sarah give to Bobo so that Bobo shall have five times as much as Sarah?
Observation
The Chief Examiner reported that this question was not well attempted by most candidates.
In part (a), they did as expected by finding the cost price which gives 60,000
= ₦52,173.91. The discount gives = = ₦3,000.00. The selling price gives 57,000 -52,173.91= ₦4,826.09. then percentage profit gives = 9.25 = 9.3%(1 d.p.)
In part (b), they were expected to assign x as the amount Sarah gave to Bobo. amount left with Sarah =(15 – x). total amount now with Bobo =(39 + x). The second sentence now is
39 + x = 5(15 – x). Expanding gives 39 + x = 75 – 5x. Collecting like terms gives6x = 36. Solving gives x = 6. Therefore, Sarah must give ₦6.00 to Bobo.