A car dealer bought a second-hand car for ₦250,000.00 and spent ₦70,000.00 refurbishing it. He then sold the car for ₦400,000.00. What is the percentage gain?
Worked solution (try it first)
The cost includes the refurbishing: 250000+70000= ₦320,000.
The gain is 400000−320000= ₦80,000.
As a percentage of the cost: 32000080000×100%=25%, option B.