2023
Mathematics
JAMB
An article when sold for ₦230.00 makes a 15% profit. Find the profit or loss % if it was sold for ₦180.00
A.
10% gain
B.
10% loss
C.
12% loss
D.
12% gain
Correct Answer: 10% loss
Explanation
First S.P = ₦230.00 % profit = 15% % profit = S.P−C.P/C.P x 100% ⇒ 15% = 230−C.P/C.P x 100% ⇒ 15/100 = (230 − C.)P/C.P ⇒15C.P = 100 (230 - C.P) ⇒15C.P = 23000 - 100C.P ⇒ 15C.P + 100C.P = 23000 ⇒115C.P = 23000 ⇒ C.P = 23000/115 = ₦200.00 Second S.P = ₦180.00 Since C.P is greater than S.P, therefore it's a loss % loss = C.P−S.P/C.P x 100% ⇒ 200−180/200 x 100% ⇒ 20/200 x 100% ⇒ 1/10 x 100% = 10% ∴ It's a loss of 10%
First S.P = ₦230.00 % profit = 15% % profit = S.P−C.P/C.P x 100% ⇒ 15% = 230−C.P/C.P x 100% ⇒ 15/100 = (230 − C.)P/C.P ⇒15C.P = 100 (230 - C.P) ⇒15C.P = 23000 - 100C.P ⇒ 15C.P + 100C.P = 23000 ⇒115C.P = 23000 ⇒ C.P = 23000/115 = ₦200.00 Second S.P = ₦180.00 Since C.P is greater than S.P, therefore it's a loss % loss = C.P−S.P/C.P x 100% ⇒ 200−180/200 x 100% ⇒ 20/200 x 100% ⇒ 1/10 x 100% = 10% ∴ It's a loss of 10%THIS WEEK's
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