Thang decided to borrow $7000 from his local bank to help pay for a car. His loan was for 3 years at a simple interest rate of
1 answer:
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Answer: The percent gain was 25%.
Step-by-step explanation:
Given, Cost price of lot = $1,200
Selling price of lot = $1,500
The percent gain =
⇒ Percent gain =
Hence, the percent gain was 25% based on his purchase.