Bello buys an old bicycle for ₦9,200.00 and spends ₦1,500.00 on its repairs. If he sells the bicycle for ₦13,400.00, his gain percent is
A
25.23%
B
31.34%
C
88.81%
D
42.54%
Verified Correct Answer: A.
Step-by-Step Mathematical Solution
Total cost price = ₦9,200.00 + ₦1,500.00 = ₦10,700.00
Selling price = ₦13,400.00
Gain = ₦13,400.00 - ₦10,700.00 = ₦2,700.00
∴ % gain = \(\frac{₦2,700.00}{₦10,700.00}\times\) 100% = 25.23%
Source: WAEC / JAMB / NECO Classroom Archive (Record #67381)