By selling 60 pens, a man gains an amount equal to the selling price of 12 pens. What is his gain percentage?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 25%.
The man sells 60 pens.
His gain (profit) is equal to the selling price of 12 pens.
We need to find the gain percentage.
⇒ Let the selling price of 1 pen be 'x'.
⇒ Total selling price of 60 pens = 60x
⇒ Gain = Selling price of 12 pens = 12x
⇒ Cost price = Total selling price - Gain
⇒ Cost price = 60x - 12x = 48x
⇒ Gain percentage = (Gain / Cost price) × 100
⇒ Gain percentage = (12x / 48x) × 100
⇒ Gain percentage = (1/4) × 100
⇒ Gain percentage = 25%