To find the percentage gain, we need to calculate the difference between the total cost (purchase price + renovation cost) and the selling price, and then divide that difference by the total cost and multiply by 100 to get the percentage.
Total cost = Purchase price + Renovation cost
Total cost = #1250000 + #350000 = #1600000
Difference = Selling price - Total cost
Difference = #200000 - #1600000 = -#1400000
Percentage gain = (Difference / Total cost) * 100
Percentage gain = (-#1400000 / #1600000) * 100
Therefore, the percentage gain is -87.5%.
Tune bought a house for #1250000 and spent #350000 to renovate it.he then sold the house for #200000.what is the percentage gain
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