Question

If the cost price of 8 pencils is equal to the selling price of 10 pencils, then the loss percent is
1. 20%
2. 25%
3. 15%
4. 16%

Answer 1

Correct Answer - Option 1 : 20%

Given:

The cost price of 8 pencils = Selling price of 10 pencils

Formula used:

Loss = Cost price - selling price

loss % = (loss/cost price) × 100

Calculations:

Let the selling price of 10 pencils be 'Rs.10'

The cost price of 8 pencils = 10 

The cost price of 1 pencil = 10 ÷ 8

⇒ Rs. 1.25

The selling price of 1 pencil = 10 ÷ 10

⇒ Rs. 1

If selling price less than cost price it considered as loss

Loss = 1.25 -1

⇒ 0.25 

loss% = (0.25/1.25) × 100

⇒ (1/5) × 100 = 20%

∴ Loss % is 20%