3. Mr. Jones sold two pipes at $1.20 each. Basedon the cost, his profi

1.	3. Mr. Jones sold two pipes at $1.20 each. Basedon the cost, his profit one was 20% and his loss onthe 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
Answer» 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.

3. Mr. Jones sold two pipes at $1.20 each. Basedon the cost, his profit one was 20% and his loss onthe 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

Answer»

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.