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JAMB Mathematics 2023 Paper

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Question : 58

Total: 80

Bello buys an old bicycle for ₦9,200.00 and spends ₦1,500.00 on its repairs. If he sells the bicycle for ₦13,400.00, his gain percent is

25.23%
31.34%
88.81%
42.54%

Solution:

Concept:

Gain percent compares the actual gain to the total cost price, which includes both the purchase price and repair costs.

Explanation:

Total cost price

= \text{₦}9,200.00 + \text{₦}1,500.00 = \text{₦}10,700.00

Selling price

= \text{₦}13,400.00

Gain

= \text{Selling price} - \text{Total cost price}

Gain

= \text{₦}13,400.00 - \text{₦}10,700.00 = \text{₦}2,700.00

Gain percent

= \left(\frac{\text{Gain}}{\text{Total cost price}}\right) \times 100\%

Gain percent

= \frac{\text{₦}2,700.00}{\text{₦}10,700.00} \times 100\% = 25.23\%

Answer:

A.

25.23\%

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