Question : A shopkeeper buys pencils from a wholesaler at Rs. 20 for 40 pencils. He sells those pencils at Rs. 20 for 20 pencils. What was his profit or loss percentage?
Option 1: 50% Profit
Option 2: 80% Loss
Option 3: 100% Profit
Option 4: 20% loss
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Correct Answer: 100% Profit
Solution : Cost price of a pencil = $\frac{20}{40}=0.5$ Selling price of a pencil = $\frac{20}{20}=1$ Profit = Selling price – Cost price = 1 – 0.5 = 0.5 Profit percentage = $\frac{\text{Selling price - Cost price}}{\text{Cost price}}\times100$ = $\frac{1 - 0.5}{0.5}\times100$ = $\frac{ 0.5}{0.5}\times100$ = 100% Hence, the correct answer is 100% profit.
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