1955 AMC 12 Problem 26
Attempt Problem 26 of the 1955 AMC 12 below, then check your answer against the professionally curated solution from LIVE by Po-Shen Loh. You can also try the full timed exam, view all 1955 AMC 12 solutions, or check the answer key.
All problems are used with official legal permission of the Mathematical Association of America (MAA).
26.
Mr. owns a house worth He sells it to Mr. at profit. Mr. sells the house back to Mr. at a loss. Then:
Mr. comes out even
Mr. makes
Mr. makes
Mr. loses
none of the above is correct
Answer: E
Small Hint:
The first sale price is
Big Hint:
Mr. ’s loss is of what he paid, not of the original house value
Solution:
Mr. first receives dollars. Mr. then sells at a loss of of his -dollar cost, so Mr. buys the house back for dollars. Mr. again owns the house and has gained dollars; Mr. has lost dollars. None of the stated amounts is correct.
Thus, the correct answer is E.
Problem 26 in Other Years
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