Question : If the cost price of 15 pencils is equal to the selling price of 10 pencils, what is the gain or loss percentage?
Option 1: 20% gain
Option 2: 30% gain
Option 3: 50% gain
Option 4: 40% loss
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Correct Answer: 50% gain
Solution : If the cost price of 15 pencils is equal to the selling price of 10 pencils, it means that the seller is making a profit. Let the cost price of one pencil as C and the selling price of one pencil as S. Given that the cost price of 15 pencils is equal to the selling price of 10 pencils. ⇒ 15C = 10S ⇒ S = $\frac{15}{10}$C = 1.5C Profit percent = ($\mathrm{\frac{S}{C}}$ – 1) × 100 = (1.5 – 1) × 100 = 50% Hence, the correct answer is 50% gain.
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