A trader made a loss of 10% on a bicycle he sold for 50400naira.if he had sold for 63000naira .what would have been his percentage gain

Answer 1

To find the percentage gain, we need to compare the selling price with the cost price.

Let's assume the cost price of the bicycle is C.

Given that the trader made a loss of 10% when selling for 50400 naira, we can write the equation:

50400 = C - 10% of C
50400 = C - 0.10C
50400 = 0.9C

Dividing both sides of the equation by 0.9, we get:

C = 50400 / 0.9
C = 56000

So, the cost price of the bicycle is 56000 naira.

Now, if the trader had sold the bicycle for 63000 naira, we can calculate the percentage gain:

Percentage gain = ((Selling price - Cost price) / Cost price) * 100

Percentage gain = ((63000 - 56000) / 56000) * 100
Percentage gain = (7000 / 56000) * 100
Percentage gain = 0.125 * 100
Percentage gain = 12.5%

Therefore, the trader would have had a 12.5% gain if he had sold the bicycle for 63000 naira.