A house bought for N100,000 was later auctioned for N80,000. Find the loss percent.
-
20%
- 30%
- 40%
- 50%
- 60%
The correct answer is: A
Explanation
Loss = N(100,000 - 80,000)
= N20,000.
Loss percentage = \(\frac{20,000}{100,000} \times 100%\)
= 20%