Toffees are bought at the rate of 8 for a rupee. To gain 60% they must be sold at?

6 for a rupee
5 for a rupee
9 for Rs. 2
24 for Rs. 5

Correct Answer: 5 for a rupee

Explanation:

Suppose he buys 8 toffees
Then, C.P. = Re. 1
Gain = 60%
∴ S.P. = Rs. (160 / 100 x 1) = Rs. 8 / 5
For Rs. 8 / 5, toffees sold = 8
For Re. 1 toffees sold = (8 x 5) / 8 = 5
So, he must sell them at 5 for a rupee

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