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A man purchases 8 pens for Rs.9 and sells 9 pens for Rs.8, how much profit or loss does he make?

Correct answer: B. 20.98% loss

  • A. 20.98% profit
  • B. 20.98% loss
  • C. 20.89% profit
  • D. 20.89% loss

Explanation

The cost of one pen is Rs.9/8, because 8 pens cost Rs.9. The selling price of one pen is Rs.8/9, so the loss fraction is 1 - (8/9)/(9/8) = 1 - 64/81 = 17/81; therefore loss percentage is 17/81 x 100 = 20.98% loss. Students often choose 20.98% profit by reversing the buying and selling rates.

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About Profit and Loss

Profit and loss compare the cost price and selling price of an item, using profit or loss percentages based on the cost price unless stated otherwise. Questions include marked price, discount, successive discounts, commission, and finding an unknown price, with care needed to distinguish discount from loss.

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