Problem: Mr. Jones sold two pipes at $1.20 each. Based on the cost his profit on one was 20% and his loss on the other was 20%. On the sale of the pipes, he
Answer Choices:
A. broke even
B. lost 4 cents
C. gained 4 cents
D. lost 10 cents
E. gained 10 cents
Solution:
S1​=C1​+51​C1​ and S2​=C2​−51​C2​.∴C1​=65​S1​=1.00 and C2​=45​S2​=1.50.∴S1​+S2​=2.40 and C1​+C2​=2.50;∴ (D) is the correct choice.