e correct answerRavi sold 16 pens at the cost of 20 pens. What is the profit or loss percentage made by him?
Question
e correct answerRavi sold 16 pens at the cost of 20 pens. What is the profit or loss percentage made by him?
Solution
Sure, here is the step by step solution:
Step 1: Understand the problem Ravi sold 16 pens for the price of 20 pens. This means he received the cost of 20 pens while only losing 16 pens.
Step 2: Calculate the cost price and selling price Let's assume the cost of 1 pen is 16 and the selling price is $20 (since he sold 16 pens for the price of 20 pens).
Step 3: Calculate the profit Profit = Selling Price - Cost Price Profit = 16 = $4
Step 4: Calculate the profit percentage Profit percentage = (Profit / Cost Price) * 100 Profit percentage = (16) * 100 = 25%
So, Ravi made a profit of 25% on selling the pens.
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