2017
Mathematics
JAMB
A car dealer bought a second-hand car for 250,000 and spent N 70,000 refurbishing it. He then sold the car for N400,000. What is the percentage gain?
A.
60%
B.
32%
C.
25%
D.
20%
Correct Answer: 25%
Explanation
Total Cost Price = N(250,000 + 70,000) = N 320,000 Selling Price = N 400,000(Given) Gain = Selling Price - Cost Price = 400,000 - 320,000 = 80,000 % gain = Gain/Cost Price × 100 = (80,000/320,000) × 100 Gain % = 25%
Total Cost Price = N(250,000 + 70,000) = N 320,000 Selling Price = N 400,000(Given) Gain = Selling Price - Cost Price = 400,000 - 320,000 = 80,000 % gain = Gain/Cost Price × 100 = (80,000/320,000) × 100 Gain % = 25%THIS WEEK's
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