A book which costs N24.00 was sold for N30.00. What is the gain percent
Show workings
The cost price (CP) = N24.00
The selling price (SP) = N30.00
Profit = SP - CP = N30.00 - N24.00 = N6.00
Gain percent = (Profit / CP) x 100
= (N6.00 / N24.00) x 100
= 25%
Therefore, the gain percent is 25%.
To find the gain percent, we need to calculate the profit made on the book and then express it as a percentage of the cost price.
Let's calculate the profit first:
Profit = Selling Price - Cost Price
Profit = N30.00 - N24.00
Profit = N6.00
Now, we can find the gain percent using the formula:
Gain Percent = (Profit / Cost Price) * 100
Substituting the values:
Gain Percent = (N6.00 / N24.00) * 100
Calculating:
Gain Percent = 0.25 * 100
Gain Percent = 25%
Therefore, the gain percent on selling the book for N30.00 is 25%.