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%.

Step-by-step explanation:

Given, Cost price of lot = $1,200

Selling price of lot = $1,500

The percent gain = $\dfrac{\text{selling price- cost price}}{\text{cost price}}\times100$

⇒ Percent gain =$\dfrac{1500-1200}{1200}\times100\%$

$\Rightarrow\text{ Percent gain}=\dfrac{300}{1200}\times100\%\\\\\Rightarrow\text{ Percent gain}=\dfrac{1}{4}\times100\%\\\\\Rightarrow\text{ Percent gain}=25\%$

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