Question

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
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Answer 1

Answer:

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Step-by-step explanation:

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)

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Answer 2

Answer:

Step-by-step explanation:

20 % profit on $ 1.20

= $ 20/100 × 1.20

= $ 0.20 × 1.20

= $ 0.24

= $ 20/100 × 1.20

= $ 0.20 × 1.20

= $ 0.24