Use the following information to answer question below

A trader bought goods worth #16,000 and sold three-quarter of it for #20,000

A. 1/2
B. 1/5
C. 2/5
D. 2/3

Correct Answer:

Option B – 1/5

Explanation

Margin = Profit/Selling Price x 100

= 4,000/20,000 x 100

= 20%

= 20/100

= 1/5

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