2001
Mathematics
67ca00ce0c643c71d77dee1f
A car dealer bought a second-hand car for N250,000 and spent N70,000 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 = N(250,000 + 70,000) = N320,000 Selling price = N400,000 (given) Gain = SP - CP = N(400,000 - 320,000) = N80,000 Gain % = gain/CP x 100 = (80,000/320,000) x 100 Gain % = 25%
Total cost = N(250,000 + 70,000) = N320,000 Selling price = N400,000 (given) Gain = SP - CP = N(400,000 - 320,000) = N80,000 Gain % = gain/CP x 100 = (80,000/320,000) x 100 Gain % = 25%THIS WEEK's
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