Question

Mr Smith buys pencil at rupees 300 per hundred and sells it rupees 8 find his loss or profit

Answer 1

price of one pencil is 300/100=3
selling price =8 per pencil
profit = [(8-3)/3]100
5/3*100=500/3=166.66%

Answer 2

loss=292
$300 \times 8 = 2400 \: profit \\ 300 - 8 = 292 \: loss$