Me Tone sold two pipes at Rs.1:20 each.Based on the cost his profit on

1.	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
Answer» 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)

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

Answer»

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)