By selling an article for N45.00 a man makes a profit of 8%. For how…

By selling an article for N45.00 a man makes a profit of 8%. For how much should he have sold it in order to make a profit of 32%?

Correct Answer: Option E

Explanation

When C.P = N45.00 at 8% profit
C.P = (frac{100}{108}) x 45
at profit of 32%, S.P = (frac{132}{100}) x c.p
= (frac{132}{100}) x (frac{100 times 45}{108})
= (frac{5940}{108})
= N55.00