Home » Classroom » JAMB Mathematics 2017 Question

A car dealer bought a second-hand car for of 25... - JAMB Mathematics 2017 Question

A car dealer bought a second-hand car for of 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 option: c

Total Cost Price = N(250,000 + 70,000)

= N 32,000

Selling Price = N 400,000(Given)

Gain = Selling Price - Cost Price

= 400,000 - 300,000

= 80,000

% gain = (\frac{\text{Gain}}{\text{Cost Price}}) × 100

= (\frac{80,000}{320,000}) × 100

Gain % = 25%

Please share this, thanks:

#JAMB #JAMB

Add your answer

Notice: Please post responsibly.

No responses