A man bought wrist watch for N150 but was only able to sell it for N120. Find the loss per cent on the transaction
A
25%
B
11%
C
20%
D
80%
E
30%
Verified Correct Answer: C.
Step-by-Step Mathematical Solution
Loss% = \(\frac{\text{actual loss}}{\text{cost price}}\) x 100%
\(\frac{N150 - N120}{N150} \times 100%\)
\(\frac{N30}{N150} \times 100%\)
= 20%
Source: Myschool Past Questions Archive (Record #32492)