Difference between revisions of "1956 AHSME Problems/Problem 2"
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== Solution == | == Solution == | ||
| − | For the first pipe, we are told that his profit was 20%. In other words, he sold the pipe for 120% or <math>\frac{6}{5}</math> of its original value. This tells us that the original price was <math>\frac{5}{6} * 1.20 = | + | For the first pipe, we are told that his profit was 20%. In other words, he sold the pipe for 120% or <math>\frac{6}{5}</math> of its original value. This tells us that the original price was <math>\frac{5}{6} * 1.20 = \$1.00</math> |
== See Also == | == See Also == | ||
Revision as of 17:06, 31 December 2015
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 
