Profit and Loss Q.11

0. The cost price of 100 pencils is equal to the selling price of 60 pencils. The gain percentage or loss percentage is

Answer
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Option : B
Explanation : Let CP = SP = Rs 100.
CP of 100 pencils = Rs 100
CP of 1 pencil = 100/100 = Rs 1
SP of 60 pencils = Rs 100
SP of 1 pencil = `100/60 = Rs 5/3
Profit = 5/3 – 1 = 2/3
Profit percentage = 2/3/1 × 100 = 66 2/3%

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