If the cost price of 12 pens is equal to the selling price of 8 pens, the gain percent is:
Correct answer: C. 50%
- A. 25%
- B. 33 1/3 %
- C. 50%
- D. 66 2/3 %
Explanation
Let the cost of one pen be Rs. 1, so 12 pens cost Rs. 12. Since this equals the selling price of 8 pens, each pen sells for Rs. 12/8 = Rs. 1.50, giving a gain of Rs. 0.50 on Rs. 1.00, or 50%. The likely mistake is 33 1/3%, which uses the increase from 8 pens to 12 pens but not the cost-price base.
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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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