Answer:
Tom bought a pen for $60 and sold it to gain 20% on his cost price. How much money did he gain?
Solution: CP of the pen = $60.
Gain = 20%.
(SP-CP)*100/CP = Gain %
(SP-60)*100/60 = 20, or
SP-60 = 60*20/100 = 12
SP = 60+12 = $72.
Gain = $72-$60 = $12. Answer.
Explanation: