3. 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 s
ale of the pipes, he:
(a) broke even, (b) lost 4 cents, (c) gained 4 cents, (d) lost 10 cents, (e) gained 10 cents
1 answer:
Solution:
<span>20 % profit on $ 1.20 </span>
= $ 20/100 × 1.20
= $ 0.20 × 1.20
<span>= $ 0.24 </span>
<span>Similarly, 20 % loss on $ 1.20 </span>
= $ 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.
<span>Answer: (a)</span>
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