If a calendar is bought for $60 and sold for $72, what is the percentage gain?

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Question: If a calendar is bought for $60 and sold for $72, what is the percentage gain?

Options:

Correct Answer: 20%

Solution:

Gain = Selling Price - Cost Price = 72 - 60 = 12. Percentage Gain = (12/60) * 100 = 20%.

If a calendar is bought for $60 and sold for $72, what is the percentage gain?

If a calendar is bought for $60 and sold for $72, what is the percentage gain?

Step 1: Identify the cost price of the calendar, which is $60.
Step 2: Identify the selling price of the calendar, which is $72.
Step 3: Calculate the gain by subtracting the cost price from the selling price: 72 - 60.
Step 4: The gain is $12.
Step 5: To find the percentage gain, divide the gain by the cost price: 12 / 60.
Step 6: Calculate the result of the division: 12 / 60 = 0.2.
Step 7: To convert this to a percentage, multiply by 100: 0.2 * 100.
Step 8: The percentage gain is 20%.

Percentage Gain – The percentage gain is calculated by taking the difference between the selling price and the cost price, dividing it by the cost price, and then multiplying by 100.
Cost Price and Selling Price – Understanding the definitions of cost price (the price at which an item is bought) and selling price (the price at which an item is sold) is crucial for calculating profit.