Answer:
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.
i know that this is hard to understand so tell me if you need help
Have a great day :)
