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WAEC Mathematics 1994 Question 8

Question 8

Commercial Arithmetic

A house bought for N100,000 was later auctioned for N80,000. Find the loss percent.

  1. A.20%
  2. B.30%
  3. C.40%
  4. D.50%
  5. E.60%
Show the answer and explanation

Answer: A (20%)

Explanation

Loss = N20,000, and 20,000/100,000 × 100% = 20%.