Alfred buys an old scooter for$14,700 and spends $1,800 on its repairs. If he sells the scooter for$15,800, what is his percent gain or percent loss?
Answer (1)
Answer:Answer: Alfred incurs approximately a 4.24% loss.Step-by-step explanation:Let's first find the total amount Alfred spent on the scooter:- Purchase price: \$14,700 - Repairs: \$1,800 Total cost = 14,700 + 1,800 = \$16,500He sells the scooter for \$15,800.Since the selling price (\$15,800) is less than the total cost (\$16,500), he incurs a loss.Calculate the loss:Loss = Total cost - Selling price = 16,500 - 15,800 = \$700Now, find the percent loss:Percent loss = (Loss / Total cost) × 100 = (700 / 16,500) × 100 = 0.04242 × 100 ≈ 4.24%
