A trader bought 100 tubers at 5 for N350.00. She sold them in sets of 4 for N290.00. Find her gain percent.
-
A.
3.6% -
B.
3.5% -
C.
3.5% -
D.
2.55
Correct Answer: Option A
Explanation
Cost price, c.p = (frac{100}{5}) x N350 = N7000
Selling price, s.p = (frac{100}{5}) x N290 = N7250
%Gain = (frac{S.p – C.p}{C.p}) x 100%
= (frac{7250 – 7000}{7000}) x 100% = (frac{250 times 100}{7000})
= 3.6% (approx.)