A house bought for N100,000 was later auctioned for N80,000. Find the loss percent.

A house bought for N100,000 was later auctioned for N80,000. Find the loss percent.

  • A.
    20%
  • B.
    30%
  • C.
    40%
  • D.
    50%
  • E.
    60%
Correct Answer: Option A
Explanation

Loss = N(100,000 – 80,000)

= N20,000.

Loss percentage = (frac{20,000}{100,000} times 100%)

= 20%

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