Multiple choice

Mrs. Jone sold two houses for $80,000 each. One house was sold at a 20 percent loss and the other at a 20 percent gain. Column A Column B Gain - Loss 10 Compare the two quantities to decide whether

  1. the quantity in Column A is greater

  2. the quantity in Column B is greater

  3. the two quantities are equal

  4. the relationship cannot be determined from the information given
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Selling price = 80,000 each. Total SP = 160,000. For 20% loss: CP1 = 80,000 / 0.8 = 100,000. For 20% gain: CP2 = 80,000 / 1.2 = 66,666.67. Total CP = 166,666.67. Net loss = 6,666.67. Column A is -6666.67, Column B is 10. Column B is greater.

AI explanation

For the first house sold at a 20% loss, the cost price is 80000 / 0.8 = 100000, resulting in a loss of 20000. For the second house sold at a 20% gain, the cost price is 80000 / 1.2 = 66666.67, resulting in a gain of 13333.33. The net value in Column A is 13333.33 - 20000, which equals -6666.67. Since this is less than the positive value of 10 in Column B, Column B is greater.

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