1956 AHSME Problems/Problem 2
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) | ||
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Followed by Problem 3 | |
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