Patrick purchased 80 pencils and sold them at a loss equal to the selling price of 16 pencils. The cost of 80 pencils is how many times the selling price of 80 pencils?  Pick:	A) 0.75	B) 1.2	C) 1.8	D) 2.4	E) 4.25
Say the cost price of 80 pencils was $80 ($1 per pencil) and the selling price of 1 pencil was p.   Selling at a loss: 80 - 80p = 16p --&gt; p = 5/6.   (cost price)/(selling price) = 1/(5/6) = 6/5 = 1.2.   Answer: 1.2.
<result>B</result>
Patrick purchased 80 pencils and sold them at a loss equal to the selling price of 16 pencils. The cost of 80 pencils is how many times the selling price of 80 pencils?