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

Answer Details

To calculate the gain percent, we need to compare the profit made to the cost price.
The cost price is the amount Bello spent on buying the bicycle and repairing it, which is ₦9,200.00 + ₦1,500.00 = ₦10,700.00.
The profit made is the amount Bello sold the bicycle for minus the cost price, which is ₦13,400.00 - ₦10,700.00 = ₦2,700.00.
To find the gain percent, we need to divide the profit made by the cost price, and then multiply by 100.
So, gain percent = (profit / cost price) * 100 = (₦2,700.00 / ₦10,700.00) * 100
Calculating this gives us gain percent = 25.2336448598
Rounded to two decimal places, the gain percent is approximately 25.23%.
Therefore, the correct answer is 25.23%.