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%