A shopkeeper sells pencils at a price such that the selling price of 3 pencils is equal to the cost of 5 pencils. Does he make a profit or a loss? What is his profit or loss percentage?
Given: Let cost price of 1 pencil = ₹x Cost of 5 pencils = ₹5x Selling price of 3 pencils = Cost of 5 pencils = ₹5x
Calculation: Selling price of 1 pencil = ₹5x/3 Profit per pencil = SP - CP = ₹5x/3 - ₹x = ₹2x/3 Profit percentage = (Profit/CP) × 100 = (2x/3)/x × 100 = 66.67%
Answer: He makes a profit of 66.67%.
Explanation
The chapter shows profit/loss calculations. Here, the shopkeeper sells fewer pencils (3) for the cost of more pencils (5), indicating profit.
Solution Steps
Let CP of 1 pencil = ₹x
CP of 5 pencils = ₹5x
SP of 3 pencils = CP of 5 pencils = ₹5x
SP of 1 pencil = ₹5x/3
Profit = SP - CP = 5x/3 - x = 2x/3
Profit % = (2x/3)/x × 100 = 66.67%