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?
Choose the correct answer.
A) 0.75	B) 1.2	C) 1.8	D) 2.4	E) 4.25

Rationale: "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 - 80 p = 16 p - - > p = 5 / 6 . ( cost price ) / ( selling price ) = 1 / ( 5 / 6 ) = 6 / 5 = 1.2 . answer : b ."
Answer: B