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JAMB Mathematics 1987 Question 10

Question 10

Commercial Arithmetic

By selling 20 oranges for N1.35 a trader makes a profit of 8%. What is his percentage gain or loss if he sells the same 20 oranges for N1.10?

  1. A.8%
  2. B.10%
  3. C.12%
  4. D.15%
Show the answer and explanation

Answer: C (12%)

Explanation

N1.35 is 108% of the cost, so the cost is 1.35 ÷ 1.08 = N1.25. Selling for N1.10 is a loss of N0.15, and 0.15/1.25 × 100 = 12%.