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
12 × CP = 8 × SP
3 × CP = 2 × SP
CP : SP = 2 : 3
Gain percentage = \(\frac{ 3 - 2 }{2}\) × 100%
= \(\frac{ 1 }{2}\) × 100%
= 50%
The correct answer is Option (2) → 50%