If the cost price of 15 pencils is equal to the selling price of 10 pencils, what is the gain or loss percentage?
Answer & explanation
Correct answer: option 3
Cost price of 15 pencils = Selling price of 10 pencils
\(\frac{CP}{SP}\) = \(\frac{10}{15}\)
gain% = (15 - 10) × \(\frac{100}{10}\) = 50% gain