A shopkeeper bought 60 penciles at a rate of 4 for Rs 5 and another 60 pencils at a rate of 2 for Rs 3. He mixed all the pencils and sold them at a rate of 3 for Rs 4. Find his gain or loss percentage.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. Loss 3(1/33)%
If he bought 4 pencils for Rs 5, then he bought 60 pencils for (5/4) × 60 = Rs 75
If he bought 2 pencils for Rs 3, then he bought 60 pencils for (3/2) × 60 = Rs 90
Total cost price = Rs 165
If he sells 3 pencils for Rs 4, then he will see 120 pencils for (4/3) × 120 = Rs 160
Loss % = (5/165) × 100 = 3(1/33) %