BECE Mathematics 2020 Paper

Concept:Selling price is the cost price plus the profit earned. Profit percentage is calculated on the cost price.Explanation:Let the cost price be $CP$. Selling price $SP = 72.00$ and profit percent $= 8\%$. Profit is the difference between selling price and cost price: $\text{Profit} = SP - CP$. Profit percent is given by: $$8 = \frac{72 - CP}{CP} \times 100$$ Multiply both sides by $CP$: $$8 \times CP = (72 - CP) \times 100$$ Expanding the right side: $$8CP = 7200 - 100CP$$ Bring the $CP$ terms together: $$8CP + 100CP = 7200$$ $$108CP = 7200$$ Divide both sides by 108: $$CP = \frac{7200}{108} = 66.666\ldots$$ Correct to the nearest Ghana cedi: $$CP \approx 67.00$$Answer:The cost of the radio set is GH₵ 67.00. Correct option: B. GH₵ 67.00.