A trader made a loss of 10% on a bicycle he sold for 50400naira.if he had sold for 63000naira .what would have been his percentage gain
To find the percentage gain, we need to compare the selling price with the cost price.
Let's assume the cost price of the bicycle is C.
Given that the trader made a loss of 10% when selling for 50400 naira, we can write the equation:
50400 = C - 10% of C
50400 = C - 0.10C
50400 = 0.9C
Dividing both sides of the equation by 0.9, we get:
C = 50400 / 0.9
C = 56000
So, the cost price of the bicycle is 56000 naira.
Now, if the trader had sold the bicycle for 63000 naira, we can calculate the percentage gain:
Percentage gain = ((Selling price - Cost price) / Cost price) * 100
Percentage gain = ((63000 - 56000) / 56000) * 100
Percentage gain = (7000 / 56000) * 100
Percentage gain = 0.125 * 100
Percentage gain = 12.5%
Therefore, the trader would have had a 12.5% gain if he had sold the bicycle for 63000 naira.
To find the percentage gain, we need to calculate the difference between the selling price and the cost price, and then express it as a percentage of the cost price.
Let's first calculate the cost price of the bicycle.
Since the trader made a loss of 10%, the selling price represents 90% of the cost price.
So, 90% of the cost price is equal to 50400 naira.
Let C be the cost price.
90% of C = 50400
We can find C by dividing both sides of the equation by 0.9:
C = 50400 / 0.9
C ≈ 56000
Now that we know the cost price is approximately 56000 naira, we can find the gain percentage when selling for 63000 naira.
Difference in selling price = 63000 - 56000 = 7000
Gain percentage = (Difference in selling price / Cost price) * 100
Gain percentage = (7000 / 56000) * 100
Gain percentage ≈ 12.5%
Therefore, if the trader had sold the bicycle for 63000 naira, his percentage gain would have been approximately 12.5%.