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If the cost price of 12 pencils is equal to sale price of 10 pencils, then find the gain or loss as a percentage of the sell price?

20% gain
10% gain
20% gain
15% loss

Correct Answer: 20% gain

Explanation:

CP of 12 pencils = Rs. 12
∴ SP of 10 pencils = Rs.12
⇒ SP of 12 Pencils = (12/10) x 12 = Rs.14.40
∴ Gain per cent = {(14.40 - 12)/12} x 100 = 20%

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