BECE Mathematics 2023 Paper

Concept:When an item is sold at a profit, the selling price equals the cost price plus the profit. Profit is calculated as a percentage of the cost price.Explanation:Let the cost price be $c$.Profit is $20\%$ of the cost price, so Profit $= 0.20c$.Selling Price $=$ Cost Price $+$ Profit.Therefore, $48.00 = c + 0.20c$.This gives $48.00 = 1.20c$.Divide both sides by $1.20$: $c = \frac{48.00}{1.20}$.So, $c = 40.00$.Hence, the cost price is GH₵ 40.00.Answer:B. GH₵ 40.00