A man bought wrist watch for N150 but was only able to sell it for N120. Find the loss per cent on the transaction
-
A.
25% -
B.
11% -
C.
20% -
D.
80% -
E.
30%
Correct Answer: Option C
Explanation
Loss% = (frac{text{actual loss}}{text{cost price}}) x 100%
(frac{N150 – N120}{N150} times 100%)
(frac{N30}{N150} times 100%)
= 20%