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Grade: 8
        
Mr. Jones sold two pipes at $1.20 each. Based on the cost, his profit one was 20% and his loss on the other was 20%. On the sale of the pipes, he:

(a) broke even, (b) lost 4 cents, (c) gained 4 cents, (d) lost 10 cents, (e) gained 10 cents
2 years ago

Answers : (1)

User
13 Points
							
20 % profit on $ 1.20 

= $ 20/100 × 1.20

= $ 0.20 × 1.20

= $ 0.24 

Similarly, 20 % loss on $ 1.20 

= $ 20/100 × 1.20

= $ 0.20 × 1.20

= $ 0.24

Therefore, in one pipe his profit is $ 0.24 and in the other pipe his loss is $ 0.24.

Since both profit and loss amount is same so, it’s broke even.

Answer: (a)
2 years ago
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