On selling of 18 pens at Rs.360, there is a loss equal to the cost of 3 pens. What is the cost price of a pen?
Answer & explanation
Correct answer: option 3
According to the question ,
Cost price of the pen = \(\frac{Total \; SP}{Selling \; quantity - Loss}\)
Cost price of the pen = \(\frac{360}{18-3}\) = \(\frac{360}{15}\) = 24