Question

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

Answer 1

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.