Correct Answer - Option 3 : 26.53% loss
Given :
A shopkeeper buys pencil at 6 for Rs. 7.
A shopkeeper sells pencil at 7 for Rs. 6.
Formula :
Loss = Cost Price – Selling Price
Loss% = [(Cost Price – Selling Price)/( Cost Price)] × 100
Concept Used:
We will make the number of pencils equal and then will calculate the overall profit or loss%.
Calculation:
Let us make the number of pencil equal in buying and selling.
Suppose the number of pencil used in buying and selling = L.C.M(6, 7)
Number of pencil used in buying and selling = 42
Cost price of 6 pencils = Rs 7
⇒ Cost price of 42 pencils = Rs [(7 × 42)/6]
⇒ Cost price of 42 pencils = Rs 49
Again, Selling price of 7 pencils = Rs 6
⇒ Selling price of 42 pencils = Rs [(6 × 42)/7]
⇒ Selling price of 42 pencils = Rs 36
Loss = Rs 49 – Rs 36
⇒ Loss = Rs 13
Loss% = [(13)/49] × 100
⇒ Loss% = 26.53.
∴ The net loss% is 26.53%.