Me Tone sold two pipes at Rs.1:20 each.Based on the cost his profit one was 20% and his loss on the other way 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
Answers
Answered by
7
Given:
Mr. Tones 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
Solution:
Selling price of the first pipe = $1.20
Profit = 20%
Let’s try to find the cost price of the first pipe
CP = Selling price - Profit
CP = 1.20 - 20% of CP
CP = 1.20 - 0.20CP
CP + 0.20CP = 1.20
1.20CP = 1.20
CP = 1.201.20
CP = $ 1
Selling price of the Second pipe = $1.20
Loss = 20%
Let’s try to find the cost price of the second pipe
CP = Selling price + Loss
CP = 1.20 + 20% of CP
CP = 1.20 + 0.20CP
CP - 0.20CP = 1.20
0.80CP = 1.20
CP = 1.200.80
CP = $1.50
Therefore, total cost price of the two pipes = $1.00 + $1.50 = $2.50
And total selling price of the two pipes = $1.20 + $1.20 = $2.40
Loss = $2.50 – $2.40 = $0.10
Therefore, Mr. Tones loss 10 cents.
Answer: (d)
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1
Step-by-step explanation:
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