An article when sold for ₦230.00 makes a 15% profit. Find the profit or loss % if it was sold for ₦1

Step 1: Find cost price from first sale
Selling price = ₦230
Profit = 15%
SP = CP + 15% of CP
230 = CP(1 + 0.15)
230 = 1.15 × CP

Step 2: Calculate cost price
CP = 230/1.15
CP = ₦200

Step 3: Find profit/loss for second sale
New SP = ₦180
CP = ₦200
Loss = CP – SP = 200 – 180 = ₦20

Step 4: Calculate loss percentage
Loss % = (Loss/CP) × 100%
= (20/200) × 100%
= 10%

Step 5: Conclusion
Since 180 < 200, it's a loss
Therefore: 10% loss