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%
Verified Correct Answer: A.
Step-by-Step Mathematical Solution
Loss = N(100,000 - 80,000)
= N20,000.
Loss percentage = \(\frac{20,000}{100,000} \times 100%\)
= 20%
Source: Myschool Past Questions Archive (Record #23475)