Difference between revisions of "1956 AHSME Problems/Problem 2"
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== See Also == | == See Also == |
Latest revision as of 17:01, 14 March 2023
Problem #2
Mr. Jones sold two pipes at each. Based on the cost, his profit on one was
% and his loss on the other was
%.
On the sale of the pipes, he:
Solution
For the first pipe, we are told that his profit was 20%. In other words, he sold the pipe for 120% or of its original value. This tells us that the original price was
.
For the second pipe, we are told that his loss was 20%. In other words, he sold the pipe for 80% or of its original value. This tells us that the original price was
.
Thus, his total cost was and his total revenue was
.
Therefore, he .
See Also
1956 AHSC (Problems • Answer Key • Resources) | ||
Preceded by Problem 1 |
Followed by Problem 3 | |
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All AHSME Problems and Solutions |
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