Question

Q35 Jennifer gained an amount of $40 when she sold an article at a profit of 8%. What is the cost price of the article?
Ops: A. O $600
B. O $500
с.
$650
D. $700​

Answer 1

Answer:

B. $500

Step-by-step explanation:

Let y be the cost price of the article

Therefore, y × 8% = 40 [given]

y × 8/100 = 40

8y = 40×100 [cross multiplication]

y = 4000/8

y = 500

Therefore, the cost price of the article = $500

[Words in italics are for explanation]