Question

Mr. A sold his land to Mr.B at a profit of 10%. Mr.B. sold it to Mr.C at a gain of 5%. Mr.C.paid N1240 more for the house than Mr. A paid. What did Mr. A paid.​

Answer 1

Mr. A initially paid approximately N8000 for the land.

Explanation:

Step 1: Let's assume Mr. A initially purchased the land for a certain amount, which we'll call "x" in currency units.

Step 2: Mr. A sold the land to Mr. B at a profit of 10%. This means Mr. A sold the land for 110% of the amount he paid (1 + 10/100 = 1.10). Therefore, Mr. A received 1.10x currency units from Mr. B.

Step 3: Mr. B sold the land to Mr. C at a gain of 5%. This means Mr. B sold the land for 105% of the amount he paid (1 + 5/100 = 1.05). Therefore, Mr. B received 1.05 * (1.10x) currency units from Mr. C.

Step 4: According to the given information, Mr. C paid N1240 more for the land than Mr. A paid. This means the difference between what Mr. C paid and what Mr. A paid is N1240. So we have the equation: 1.05 * (1.10x) - x = N1240

Step 5: Simplifying the equation: 1.155x - x = N1240

Step 6: Solving for x: 0.155x = N1240

x = N1240 / 0.155

x ≈ N8000

Therefore, in conclusion, Mr. A initially paid approximately N8000 for the land.