Mary bought a handbag if N15.00. If she sold it for N18.00, what is her percentage gain
Show workings
To calculate the percentage gain, we need to first find the profit made by Mary.
Profit = Selling price - Cost price
Profit = N18.00 - N15.00
Profit = N3.00
Now, we can calculate the percentage gain using the following formula:
Percentage gain = (Profit/Cost price) * 100
Substituting the values we have:
Percentage gain = (N3.00/N15.00) * 100
Percentage gain = 20%
Therefore, Mary's percentage gain is 20%.