Question

A trader made a loss of 10% on a bicycle he sold for 50,400 if he had sold it for 63,000 what would have been his percentage gain

Answer 1

12.5

Answer 2

To find the percentage gain, we need to find the difference between the selling price and the cost price of the bicycle.

The cost price of the bicycle can be calculated by dividing the selling price by 1 plus the loss percentage.

Cost Price = Selling Price / (1 - Loss Percentage/100)
Cost Price = 50,400 / (1 - 10/100)
Cost Price = 50,400 / (1 - 0.1)
Cost Price = 50,400 / 0.9
Cost Price = 56,000

To find the percentage gain, we can use the formula:

Percentage Gain = (Difference / Cost Price) x 100

Difference = Selling Price - Cost Price
Difference = 63,000 - 56,000
Difference = 7,000

Percentage Gain = (7,000 / 56,000) x 100
Percentage Gain = 12.5%

If he had sold the bicycle for 63,000, his percentage gain would have been 12.5%.

Answer 3

Correct! If the trader had sold the bicycle for 63,000, he would have made a percentage gain of 12.5%.