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%
Verified Correct Answer: C.
Step-by-Step Mathematical Solution
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%
Source: Myschool Past Questions Archive (Record #40726)