Final answer:
Mary made a 20 percent gain on the sale of her handbag. The gain was calculated by subtracting the cost price from the selling price and then dividing by the cost price, followed by multiplying by 100 to get the percentage.
Step-by-step explanation:
The question asks about calculating the percentage gain from buying and selling an item. To find the percentage gain, we use the formula: Percentage Gain = ((Selling Price - Cost Price) / Cost Price) * 100. In this scenario, Mary bought the handbag for 15.00 naira and sold it for 18.00 naira.
Using the formula:
- Cost Price = 15.00 naira
- Selling Price = 18.00 naira
We calculate:
Gain = Selling Price - Cost Price = 18.00 naira - 15.00 naira = 3.00 naira
Percentage Gain = (Gain / Cost Price) * 100 = (3.00/15.00) * 100 = 20%
Therefore, Mary had a 20 percent gain on the sale of the handbag.
To find the percentage gain, we need to calculate the difference between the selling price and the buying price, and then find what percentage this difference is of the buying price.
The buying price is 15.00 naira and the selling price is 18.00 naira. So the difference is 18.00 - 15.00 = 3.00 naira.
To find the percentage, we divide this difference by the buying price and multiply by 100:
(3.00 / 15.00) x 100 = 20%