SOLUTION: Mr. Jones sold 2 candies at $1.20 each. based on the cost, his profit on one was 20% and his lost on the other was 20%. On the sale of the candies, he gain or lost by how much?
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: Mr. Jones sold 2 candies at $1.20 each. based on the cost, his profit on one was 20% and his lost on the other was 20%. On the sale of the candies, he gain or lost by how much?
Log On
Question 106223: Mr. Jones sold 2 candies at $1.20 each. based on the cost, his profit on one was 20% and his lost on the other was 20%. On the sale of the candies, he gain or lost by how much? Answer by edjones(8007) (Show Source):
You can put this solution on YOUR website! let g be the cost of the candy he gained on.
let L be the cost of the candy he lost on.
.
g+.2g=1.20
1.2g=1.20
g=1.20/1.2
g=$1.00
.
L-.2L=1.20
.8L=1.20
L=1.20/.8
L=$1.50
.
His cost for the 2 candies was $2.50 and he sold them for $2.40
His loss was 10 cents on the deal.
.
Ed
