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Error: Compile Error: Invalid type: Pen__c at line 3 column 52

when i hit the quick save,this error is coming.Here is the code

public class PenClassDemonstration{

  public static void applyDiscountPen(list<Pen__c> VarPensListNew ) {

  

  for (Pen__c VarP :VarPenlistNew) {

    if(VarP.Price__c >=100) {

              VarP.Price__c = VarP.Price__c-20 ;

              }

          }

       }

   }

Kindly help me to rsolve this issue.I am using the API name also.
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