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# When a TV set is sold for ₦18,700 the profit is 10%, what should be the sellin...

### Question

When a TV set is sold for ₦18,700 the profit is 10%, what should be the selling price to make a profit of 18%?

A) ₦17,060

B) ₦19,020

C) ₦20,060

D) ₦22,000

### Explanation:

Let the cost price = x
x + 10%x = ₦18700
$$x + \cfrac{10x}{100} = ₦18700$$
$$\cfrac{100x + 10x}{100} = ₦18700$$
$$\cfrac{10x + x}{10} = ₦18700$$
10x + x = ₦18700 × 10
11x = ₦18700 × 10
$$x = ₦\cfrac{187000 \times 10}{11} = ₦17000$$
To make profit of 18%:
Selling price = 17000 + 18% of 17000
$$= 17000 + \cfrac{18}{100} \times 17000$$
= 17000 + 3060
= ₦20,060

## Dicussion (1)

• Let the cost price = x
x + 10%x = ₦18700
$$x + \cfrac{10x}{100} = ₦18700$$
$$\cfrac{100x + 10x}{100} = ₦18700$$
$$\cfrac{10x + x}{10} = ₦18700$$
10x + x = ₦18700 × 10
11x = ₦18700 × 10
$$x = ₦\cfrac{187000 \times 10}{11} = ₦17000$$
To make profit of 18%:
Selling price = 17000 + 18% of 17000
$$= 17000 + \cfrac{18}{100} \times 17000$$
= 17000 + 3060
= ₦20,060