Which of the following statements are correct? Choose the correct answer from the options given below.

1.A man purchased an item at 4/5 of its selling price X and sold it at 5% more than X; his gain is 25%

2.A dealer professes to sell his goods at cost price but uses a weight of 900 g for a 1 kg weight; his gain is about 11.11%

3.If loss is one-third of the selling price, the loss percentage is 25%

4.By selling 100 pens, a vendor gains the selling price of 20 pens; his gain is 20%

A1 and 2 only

B2 and 3 only ✓ Correct

C3 and 4 only

D1 and 4 only

Correct answer: (B) 2 and 3 only

Explanation

Statement 2 and Statement 3 are correct.

Statement 2: using 900 g for 1 kg, gain = 100/900 = 11.11%.

Statement 3: loss = SP/3, CP = 4SP/3, loss% = (SP/3)/(4SP/3) = 25%.

Statement 1 gives gain = (1.05X - 0.8X)/0.8X = 31.25%, not 25%.

Statement 4 gives gain = 20/80 = 25%, not 20%.

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