Question

Naresh bought 4 dozen pencils at Rs 10.80 a dozen and sold them for 80 paise each. Find his gain or loss percent.

Answer 1

Given Cost of 1 dozen pencils = Rs. 10.80

Therefore cost of 4 dozen pencils = 4 x 10.80

= Rs. 43.2

Also given that selling price of each pencil = 80 paise

Total number of pencils = 12 x 4 = 48

SP of 48 pencils = 48 x 80 paise

= 3840 paise

= Rs. 38.40

Here, clearly SP < CP.

Loss = CP – SP

= Rs. (43.2 – 38.4)

= Rs. 4.8

Loss % = (Loss/CP) x 100

= (4.8/43.2) x 100

= 480/43.2

Loss = 11.11%