A man bought a car for N800 and sold it for N520. Find his loss per cent
-
A.
15% -
B.
25% -
C.
35% -
D.
10%
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%
There is an explanation video available below.