A man buys 13 pens for a rupee. How many pens should he sell for a rupee to earn a profit of 30 percent?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 10.
The cost price of 13 pens = Rs 1
So, the cost price of 1 pen = 1/13
Selling price = Cost price × (100 + profit %)/100
For 30% profit
Selling price = (1/13) × (100 + 30)/100 = 1/10
So, he needs to sell 10 pens at Re 1 to earn 30% profit