Question

The cost of 8 pencils is equal to the s.p of 7 pencils.

Answer 1

let say cost Price of one pencil = c

cost price of 8 pencils = 8c

selling price of 7 pencils = 8c

selling price of 1 pencil = 8c/7

profit on 1 pencil = selling price of 1 pencil - cost price of 1 pencil

=8c/7 - c

= (8c -7c)/7

= c/7

profit % =(profit / cost price) × 100

={ (c/7)/c}× 100

= 100/7

=14.2857 %

= 14.29%

14.29% Profit