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By selling 12 pencils for a rupee a man loses 20%. How many for a rupee should he sell in order to gain 20%?

Correct answer: A. 8

  • A. 8
  • B. 9
  • C. 12
  • D. 16

Explanation

Selling 12 pencils for Rs.1 means the selling price is Rs.1/12 per pencil. Since this is a 20% loss, the cost price is (Rs.1/12)/0.8 = Rs.5/48 per pencil; for a 20% gain, the selling price must be Rs.5/48 x 1.2 = Rs.1/8 per pencil. Thus the man should sell 8 pencils for Rs.1. Students often choose 16 by doubling the number without accounting for the change from 20% loss to 20% gain.

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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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