A house bought for N100,000 was later auctioned for N80,000. Find the loss percent.
MATHEMATICS
WAEC 1994
A house bought for N100,000 was later auctioned for N80,000. Find the loss percent.
- A. 20%
- B. 30%
- C. 40%
- D. 50%
Correct Answer: A. 20%
Explanation
Loss = N(100,000 - 80,000)
= N20,000.
Loss percentage = \(\frac{20,000}{100,000} \times 100%\)
= 20%
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