A man bought a lot for 1200 and sold it for 1500. his percent of gain based on his purchase was

Question

asked Jul 4, 2021 143k views

1 Answer

Wazoox · Answer 1 · 2021-07-09T22:03:28+0000

Answer: The percent gain was 25%.

Explanation:

Given, Cost price of lot = $1,200

Selling price of lot = $1,500

The percent gain =
$\frac{\text{selling price- cost price}}{\text{cost price}}*100$

⇒ Percent gain =
$(1500-1200)/(1200)*100\%$

$\Rightarrow\text{ Percent gain}=(300)/(1200)*100\%\\\\\Rightarrow\text{ Percent gain}=(1)/(4)*100\%\\\\\Rightarrow\text{ Percent gain}=25\%$

Hence, the percent gain was 25% based on his purchase.