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By selling 12 toffees for a rupee, a man loses 20%. How many for a rupee should be sell to get a gain of 20%?

Correct answer: B. 8

  • A. 5
  • B. 8
  • C. 10
  • D. 15General Reference

Explanation

Selling 12 toffees for Rs. 1 at a 20% loss means Rs. 1 is 80% of their cost, so cost of 12 toffees = Rs. 1/0.80 = Rs. 1.25. For a 20% gain, the selling price of those toffees must be Rs. 1.25 x 1.20 = Rs. 1.50, so one rupee buys 12/1.50 = 8 toffees. The likely mistake is 10, which changes the quantity in the wrong direction when moving from loss to 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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