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
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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