Bello buys an old bicycle for ₦9,200.00 and spends ₦1,500.00 on its repairs. If he sells the bicycle for ₦13,400.00, his gain percent is
-
25.23%
- 31.34%
- 88.81%
- 42.54%
The correct answer is: A
Explanation
Total cost price = ₦9,200.00 + ₦1,500.00 = ₦10,700.00
Selling price = ₦13,400.00
Gain = ₦13,400.00 - ₦10,700.00 = ₦2,700.00
∴ % gain = \(\frac{₦2,700.00}{₦10,700.00}\times\) 100% = 25.23%
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