By selling 8 pens for Rs 75, a shopkeeper loses 25%. How many pens should be sold for Rs 372 to earn a 24% profit?
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → 24
Loss and profit per cent are worked out on the cost price. The first sale gives the cost price of a pen; the selling price for a 24% profit then tells how many pens Rs 372 must buy.
Cost price of a pen (a 25% loss means the selling price is 75% of the cost):
Cost of 8 pens \(\displaystyle =75\times\frac{100}{75}=\) Rs 100
Cost of 1 pen \(\displaystyle =\frac{100}{8}=\) Rs 12.50
Selling price for a 24% profit:
Selling price of 1 pen \(=12.50\times1.24=\) Rs 15.50
Number of pens \(\displaystyle =\frac{372}{15.50}=24\)