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Profit and Loss
A dealer purchased an article at 3/4 of its list price and sold it at 50% more than the list price. Find his gain percent.
Explanation and memory cue
The dealer buys the article at 3/4 of the list price and sells it at 150% of the list price. If the list price is L, cost price = (3/4)L and selling price = (3/2)L. Gain = selling price - cost price = (3/2)L - (3/4)L = (3/4)L. Gain percent = (gain / cost price) × 100 = ((3/4)L / (3/4)L) × 100 = 100%.