By selling 20 oranges for ₦1.35 a trader makes a profit of 8%. What is his percentage gain or loss if he sells the same 20 oranges for ₦1.10?

Question 1 Report

8%

10%

12%

15%

Answer Details

profit 8% of ₦1.35 = $\frac{8}{100}$ x ₦1.35 = ₦0.08
Cost price = ₦1.35 - ₦0.10 = ₦1.25
If he sells the 20 oranges for ₦1.10 now
%loss = $\frac{actual loss}{Cost price}$ x 100
$\frac{125 - 1.10}{1.25}$ x 100
= $\frac{0.15 \times 100}{1.25}$
= $\frac{15}{1.25}$
= 12%

Read lesson note on Modular Arithmetic (WAEC)

Read lesson note on Ratio, Proportions And Rates (WAEC)

Modular Arithmetic

Ratio, Proportions And Rates

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