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?

Assessment: JAMB UTME - Mathematics - 1987 Subject: General Mathematics

Question 1 Report

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?
Answer Details
profit 8% of ₦1.35 =  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 =  actual loss Cost price  x 100
125 − 1.10 1.25  x 100
=  0.15 × 100 1.25
=  15 1.25
= 12%

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