Cost Price of 11 pencils is equal to the selling price of 10 pencils. Then loss or gain percentage (whatever may be the cost of 1 pencil) is
1) 12%
2) 10%
3) 20%
4) 25%
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The cost price of 11 pencils = S.P of 10 pencils
Let C.P of 1 pencil is 1 rupee
C.P of 10 pencils = 10 rupees
S.P of 10 pencils = C.P of 11 pencils = 11 rupees
Profit on 10 pencils = 11 – 10 = 1 rupee
Profit % =
×
100 = 10 %
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