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
Answers
For 1st pipes, S.P =1.20 , profit =20 %
C.P=S.P−profit
CP=1.20−20%×CP
∴120% CP=1.20
∴CP=1201.20×100
∴CP1=1.00
For 2nd=s.p+loss
CP=1.20+200 % CP
∴80% CP=1.20
∴CP=801.20×100
=1.50
∴ Total CP=1.00+1.50=2.50
Total SP=1.20+1.20=2.40
∴ He suffered 10 paise loss.
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Answer:
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Step-by-step explanation:
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. Jones loss 10 cents.