Amit bought 50 pencils from a shopkeeper at a price of Rs. 3 per pencil, and then sold 15 pencils for Rs. 3.5 per pencil and the remaining at Rs. 2.5 per pencil. Calculate the percentage loss/profit that Amit had (rounded off to two decimal places).
Given:
Amit bought 50 pencils at Rs. 3 each
He sold:
15 pencils at Rs. 3.5 each
Remaining 35 pencils at Rs. 2.5 each
Formula Used:
Profit/Loss % =
Solution:
Cost Price (CP) = 50 × 3 = Rs. 150
SP₁ = 15 × 3.5 = Rs. 52.5
SP₂ = 35 × 2.5 = Rs. 87.5
Total Selling Price (SP) = 52.5 + 87.5 = Rs. 140
Since SP < CP → it's a Loss
Loss = 150 - 140 = Rs. 10
Loss % = = 6.67%
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