A vendor sold 10 toffees for a rupee, thereby gaining 20%. How many did he buy for a rupee?
12
The correct answer is Option 3 i.e. 12.
Let the cost price(CP) of 1 toffee = ₹x
Selling price(SP) of 1 toffee = ₹\(1\over10\)
⇒ SP = 1.20 × CP
⇒ \(1\over10\) = 1.20 × x
⇒ x = \(1\over12\)
So, the vendor buys 12 toffees for ₹1
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