A man bought wrist watch for N150 but was only able to sell it for N120. Find the loss per cent on the transaction
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Correct Answer: Option C
Explanation:
Loss% = \(\frac{\text{actual loss}}{\text{cost price}}\) x 100%
\(\frac{N150 - N120}{N150} \times 100%\)
\(\frac{N30}{N150} \times 100%\)
= 20%
Loss% = \(\frac{\text{actual loss}}{\text{cost price}}\) x 100%
\(\frac{N150 - N120}{N150} \times 100%\)
\(\frac{N30}{N150} \times 100%\)
= 20%