If the cost price of 12 pens is equal to the selling price of 8 pens, then what is the gain percent?
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → 50%
The money paid for 12 pens comes back from selling only 8 pens. So on every 8 pens sold, the gain is the cost of the other 4 pens, and gain percent is reckoned on the cost price.
Assuming the cost price of 1 pen to be ₹1: the cost of 8 pens is ₹8 and their selling price is ₹12
Gain \(=12-8=4\)
Gain percent \(\displaystyle=\frac{4}{8}\times100=50\%\)