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JAMB Mathematics 2017 Paper

Question : 24

Total: 44

Solution:

Concept:

Percentage gain is calculated as the gain divided by the total cost price, then multiplied by

100\%

Explanation:

Total cost price includes the purchase price and the refurbishing cost.

Total cost price

= \text{N}250,000 + \text{N}70,000 = \text{N}320,000

Selling price

= \text{N}400,000

Gain

= \text{Selling Price} - \text{Cost Price}

Gain

= \text{N}400,000 - \text{N}320,000 = \text{N}80,000

Percentage gain

= \frac{\text{Gain}}{\text{Cost Price}} \times 100\%

Percentage gain

= \frac{80,000}{320,000} \times 100\%

Percentage gain

= \frac{1}{4} \times 100\% = 25\%

Answer:

The percentage gain is

25\%

, which is option C.

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