A man bought a car for N800 and sold it for N520. Find his loss per cent
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Correct Answer: Option C
Explanation:
Percentage Loss = (actual loss ) ÷ (Cost price) × 100
Actual loss = Cost Price − Selling Price (sold price)
= N800 − N520 = N280
Percentage loss = (280 ÷ 800) × 100 = 35%
∴ His loss percent = 35%
Percentage Loss = (actual loss ) ÷ (Cost price) × 100
Actual loss = Cost Price − Selling Price (sold price)
= N800 − N520 = N280
Percentage loss = (280 ÷ 800) × 100 = 35%
∴ His loss percent = 35%