A woman bought a grinder for N60,000. She sold it at a loss of 15%. How much did she sell it?
A. N53,000
B. N52,000
C. N51,000
D. N50,000
Correct Answer: C
Explanation
SP = Nx
CP = N60,000
Percentage loss = 15%
Using percentage loss...
\(\frac{CP - SP}{CP} = \text{100%}\)
\(\text{15%} = \frac{60000 - x}{60000} \times \text{100%}\)
\(\text{15%} \times 60000 = (60000 - x)\text{100%}\)
\(60000 - x = \frac{\text{15%} \times 60000}{\text{100%}}\)
60000 - x = 3 x 3000
60000 -x = 9000
x = 60000 - 9000
x = N51,000
