A clock bought for 1,145.60 naira was sold for 1,170.40 naira. That is the gain or loss?

Answer 1

To calculate the gain or loss, we use the formula:

Gain or Loss = Selling Price - Cost Price

Cost Price = 1,145.60 naira
Selling Price = 1,170.40 naira

Gain or Loss = 1,170.40 - 1,145.60
Gain or Loss = 24.80 naira

Therefore, the gain from selling the clock is 24.80 naira.