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By selling 20 oranges for N1.35 a trader makes a profit of 8...

By selling 20 oranges for N1.35 a trader makes a profit of 8%. What is his percentage gain or loss if he sells the same 20 oranges for N1.10?

A.

8%

B.

10%

C.

12%

D.

15%

Correct answer is C

profit 8% of N1.35 = 8100 x N1.35 = N0.08

Cost price = N1.35 - N0.10 = N1.25

If he sells the 20 oranges for N1.10 now

%loss = actual lossCost price x 100

1251.101.25 x 100

= 0.15×1001.25

= 151.25

= 12%