if a trader bought 10 cups of garri for #1 and Sold it at 8 cups for #1. what was his gain % ?
cost per cup = 0.100
income per cup = 0.125
0.125/0.100 = 1.25
so, 25% gain (based on cost)
To calculate the gain percentage, we need to know the cost price and the selling price of the cups of garri.
From the information given, we know that the trader bought 10 cups of garri for #1. This means that the cost price of 1 cup of garri is #1/10 = #0.10.
Next, we have to determine the selling price of the cups of garri. We are told that the trader sold 8 cups for #1. Therefore, the selling price of 1 cup of garri is #1/8 = #0.125.
Now, we can calculate the gain percentage using the formula:
Gain Percentage = (Selling Price - Cost Price) / Cost Price * 100
Substituting the values we found:
Gain Percentage = (#0.125 - #0.10) / #0.10 * 100
= #0.025 / #0.10 * 100
= 0.25 * 100
= 25%
Therefore, the trader's gain percentage is 25%.
To calculate the gain percentage, we need to compare the selling price to the cost price. Here's how we can calculate it:
Step 1: Determine the cost price.
The trader bought 10 cups of garri for #1. Therefore, the cost price per cup of garri is #1 divided by 10, which equals #0.10.
Step 2: Determine the selling price.
The trader sold 8 cups of garri for #1. Therefore, the selling price per cup of garri is #1 divided by 8, which equals #0.125.
Step 3: Calculate the gain.
To find the gain, we subtract the cost price from the selling price:
Gain = Selling Price - Cost Price = #0.125 - #0.10 = #0.025
Step 4: Calculate the gain percentage.
The gain percentage is calculated by taking the gain and dividing it by the cost price, then multiplying by 100 to get the percentage:
Gain Percentage = (Gain / Cost Price) * 100 = (#0.025 / #0.10) * 100 = 25%
So, the trader's gain percentage is 25%.