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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