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