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BECE Mathematics 2015 Paper

Question : 14

Total: 40

Solution:

\text{ Profit }\% = \frac{\text{ Profit }}{\text{ Cost Price }} \times 100

\text{ Profit } = \text{ Selling Price } - \text{ Cost Price }

\text{ Profit }\% = \frac{\text{ Selling Price } - \text{ Cost Price }}{\text{ Cost Price }} \times 100

Let

c = \text{cost}

price

Selling price

= 60000

Profit

\% = 20

20 = \frac{60000 - c}{c} \times 100

Get rid of the fraction by multiplying both sides of the equation by the denominator (c)

c \times 20 = (60000 - c) \times 100

20 c = 60000 \times 100 - 100 \times c

20 c + 100 \times c = 60000 \times 100

120 c = 60000 \times 100

Divide both sides by 120

c = \frac{60000 \times 100}{120}

c = 50000

Cost price

= \text{GH₵} 550,000

Alternate Solution

The cost price is

100 \%

and the selling price is

100 \% +

Profit \%

Once you know each of the percentages, you can use proportionality to calculate the other.

Selling Price

\% = 100 + 20 = 120 \%

120 = 60000

100 = \frac{60000 \times 100}{120} = 50000

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