If the cost price of an item is $150 and it is sold for $180, what is the gain i

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Question: If the cost price of an item is $150 and it is sold for $180, what is the gain in percentage?

Options:

Correct Answer: 20%

Solution:

Gain = Selling Price - Cost Price = 180 - 150 = 30. Gain Percentage = (Gain/Cost Price) * 100 = (30/150) * 100 = 20%.

If the cost price of an item is $150 and it is sold for $180, what is the gain in percentage?

If the cost price of an item is $150 and it is sold for $180, what is the gain in percentage?

Step 1: Identify the cost price of the item, which is $150.
Step 2: Identify the selling price of the item, which is $180.
Step 3: Calculate the gain by subtracting the cost price from the selling price: Gain = Selling Price - Cost Price = 180 - 150.
Step 4: Perform the subtraction: Gain = 30.
Step 5: To find the gain percentage, use the formula: Gain Percentage = (Gain / Cost Price) * 100.
Step 6: Substitute the values into the formula: Gain Percentage = (30 / 150) * 100.
Step 7: Calculate the division: 30 / 150 = 0.2.
Step 8: Multiply by 100 to find the percentage: 0.2 * 100 = 20%.
Step 9: The gain percentage is 20%.

Profit Calculation – Understanding how to calculate profit by subtracting the cost price from the selling price.
Percentage Calculation – Applying the formula for percentage gain, which involves dividing the gain by the cost price and multiplying by 100.