Asked by Precious
Mary bought a handbag if N15.00. If she sold it for N18.00, what is her percentage gain
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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%.
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%.