A trader bought 100 tubers at 5 for N350.00. She sold them in sets of 4 for N290.00. Find her gain percent.
A
3.6%
B
3.5%
C
3.4%
D
2.55
Verified Correct Answer: A.
Step-by-Step Mathematical Solution
Cost price, c.p = \(\frac{100}{5}\) x N350 = N7000
Selling price, s.p = \(\frac{100}{5}\) x N290 = N7250
%Gain = \(\frac{S.p - C.p}{C.p}\) x 100%
= \(\frac{7250 - 7000}{7000}\) x 100% = \(\frac{250 \times 100}{7000}\)
= 3.6% (approx.)
Source: WAEC / JAMB / NECO Classroom Archive (Record #36334)