Given parameters:
Cost price of the article = Nu.28.30
Selling price of the article = Nu.29.30
Unknown:
Gain percentage = ?
The gain percentage is the same as the percentage profit on a trade.
The formula is given as:
Gain percentage =
Profit = Selling price - Cost price
= Nu.29.30 - Nu.28.30
= Nu. 1
Now input the parameters and solve;
Gain percentage =
= 3.5%
The gain percent is 3.5%
Answer:
Step-by-step explanation:
Given the following data;
Principal = $7,000
Interest = 3.5% = 3.5/100 = 0.035
To find the future value, we would use the compound interest formula;
Where;
A is the future value.
P is the principal or starting amount.
r is annual interest rate.
n is the number of times the interest is compounded in a year.
t is the number of years for the compound interest.
Substituting into the equation, we have;
