A man purchased 20 dozens of pencils at the rate of ₹240 per dozen. Two-thirds of the pencils were sold at the rate of ₹25 each and the rest of the pencils sold at ₹22 each. What is the average percentage of profit?

The total number of pencils bought is $$20\times\ 12=240$$ and the price of each pencil is $$\frac{240}{12}=20$$ rs. 
Therefore, the total money invested is 4,800

Now, 2/3 rd of the pencils i.e, $$\frac{2}{3}\times240=160\ $$ pencils are sold at rs 25, earning back $$160\times\ 25=4,000$$
The remaining 80 pencils are sold at rs 22, earning back $$80\times\ 22=1,760$$
Giving us a net revenue of Rs 5,760 and a net profit of Rs 960

The profit percentage is $$\frac{960}{4800}\times\ 100=20\%$$
Therefore, Option A is the correct answer.