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Use the following information to answer questions below A trader bought goods worth #16,000 and...

Accounts - Principles of Accounts
WAEC 2022

Use the following information to answer questions below

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

The margin would be

  • A. 1/2
  • B. 1/5
  • C. 2/5
  • D. 2/3
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Correct Answer: Option B
Explanation

Margin = Profit/Selling Price x 100

= 4,000/20,000 x 100

= 20%

= 20/100

= 1/5

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WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Your School's Whatsapp Group - Join Us now
Post UTME Past Questions Agent
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now