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A man purchases 6 pens for $8 and sells 8 pens for $6. How much profit/loss does he make?  Ops:   A. 43.75% Loss    B. 42.4% Loss    C. 40.12% Profit    D. 45.98% Profit

Question

A man purchases 6 pens for 8andsells8pensfor8 and sells 8 pens for 6. How much profit/loss does he make?  Ops:   A. 43.75% Loss    B. 42.4% Loss    C. 40.12% Profit    D. 45.98% Profit

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Solution

To solve this problem, we first need to determine the cost price and the selling price per pen.

Step 1: Determine the cost price per pen The man purchases 6 pens for 8,sothecostpriceperpenis8, so the cost price per pen is 8/6 = $1.33 (rounded to the nearest cent).

Step 2: Determine the selling price per pen The man sells 8 pens for 6,sothesellingpriceperpenis6, so the selling price per pen is 6/8 = $0.75.

Step 3: Determine the loss per pen The loss per pen is the cost price per pen minus the selling price per pen, which is 1.331.33 - 0.75 = $0.58.

Step 4: Determine the percentage loss The percentage loss is the loss per pen divided by the cost price per pen, multiplied by 100. So, the percentage loss is (0.58/0.58/1.33) * 100 = 43.6%.

So, the closest answer is A. 43.75% Loss.

This problem has been solved

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