A bookseller sells 12 pencils for ₹360, but in doing so, he incurs a loss equal to the cost price of 3 pencils. What is his loss percent?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 25%.
Let CP of one pencil = x
Total CP for 12 pencils = 12x
Loss = CP of 3 pencils = 3x
Loss percent = (3x/12x) × 100 = 25%