1956 AMC 12 Problem 2

Attempt Problem 2 of the 1956 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 1956 AMC 12 solutions, or check the answer key.

All problems are used with official legal permission of the Mathematical Association of America (MAA).

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:

broke even

lost

4

gained

4

lost

10

gained

10

Recover each cost by dividing the sale price by

1.2

0.8

Compare the combined cost with the combined selling price of

\$2.40

The pipe sold at a

20\%

profit cost

\frac{\$1.20}{1.20}=\$1.00,

while the pipe sold at a

20\%

loss cost

\frac{\$1.20}{0.80}=\$1.50.

Their combined cost was

\$2.50,

but they sold for

\$2.40,

so Mr. Jones lost

10

cents.

Thus, the correct answer is D.

Problem 2 in other years