A man bought a car newly for 1 250 000 He had a... - JAMB Mathematics 2019 Question
A man bought a car newly for ₦1,250,000. He had a crash with the car and later sold it at the rate of ₦1,085,000. What is the percentage gain or loss of the man?
A
43.7% loss
B
13.2% gain
C
13.2% loss
D
43.7% gain
correct option: c
The cost price of the car = N 1,250.00
The selling price of the car = N 1,085.00
Loss is the difference in the buying and selling price = N (1250 - 1085)
= N 165.00
% loss = \(\frac{165}{1250} \times 100%\)
= 13.2% loss
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