By selling 12 pencils for a rupee a man loses 20%. How many for a rupee should he sell in order to gain 20%?  Choose the correct choice from the following.
A) 8 B) 76 C) 17 D) 7 E) 77

Rationale: "80 % - - - 12 120 % - - - ? 80 / 120 * 12 = 8 answer : a"
Answer: A