Profit and loss percent - Jamb Mathematics Past Questions and Answers

Question 21:

• JAMB 1999

A trader bought 100 oranges at 5 for N1.20, 20 oranges got spoilt and the remaining were sold at 4 for N1.50. Find the percentage gain or loss.

A. 30% gain
B. 25% gain
C. 30% loss
D. 25% loss

Question 22:

• JAMB 2000

A trader realizes 10x - x\(^2\) naira profit from the sale of x bags on corn. How many bags will give him the desired profit?

A. 4
B. 5
C. 6
D. 7

Question 23:

• JAMB 2001

A car dealer bought a second-hand car for N250,000 and spent N70,000 refurbishing it. He then sold the car for N400,000. What is the percentage gain?

A. 60%
B. 32%
C. 25%
D. 20%

Question 24:

• JAMB 2002

A trader bought goats for N4000 each. He sold them for N180,000 at a loss of 25%. How many goats did he buy?

A. 60
B. 50
C. 45
D. 36

Question 25:

• JAMB 2003

A woman buys 270 oranges for N1800.00 and sells at 5 for N40.00. What is her profit?

A. N2,160.00
B. N1, 620.00
C. N630.00
D. N360.00