Ladi sold a car for N84,000 at a loss of 4%. How much did ladi buy the car?
A
80,500
B
80,640
C
87,360
D
87,500
Verified Correct Answer: D.
Step-by-Step Mathematical Solution
SP = 84,000
Loss% = 4%
100% = 4% = 96% = \(\frac{96}{100}\)
Reverse \(\frac{96}{100}\) and use it to multiply SP to get the cost price.
CP = 84,000 x \(\frac{100}{96}\) = N 87500.
Source: WAEC / JAMB / NECO Classroom Archive (Record #26713)