A trader bought an article for ₦250 and sold it for ₦200. What is his percent loss

Answer 1

To calculate the percentage loss, we need to first find the difference between the buying price and the selling price.

Loss = ₦250 - ₦200 = ₦50

Next, to find the percentage loss, we use the formula:

Percentage loss = (Loss / Buying price) x 100%

= (₦50 / ₦250) x 100%
= 0.2 x 100%
= 20%

Therefore, the trader incurred a 20% loss on the article.