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Bobby bought two shares of stock, which he sold for $96 [#permalink] ### Show Tags 22 Sep 2005, 20:59 2 This post was BOOKMARKED 00:00 Difficulty: 45% (medium) Question Stats: 66% (02:07) correct 34% (01:43) wrong based on 167 sessions ### HideShow timer Statistics Bobby bought two shares of stock, which he sold for$96 each. If he had a profit of 20% on one of the shares and a loss of 20% on the other share, then on the sale of both shares combined Bobby had:

A. A profit of $10 B. A profit of$8
C. A loss of $8 D. A loss of$10
E. Neither a profit nor a loss

OPEN DISCUSSION OF THIS QUESTION IS HERE: bobby-bought-2-shares-and-which-he-sold-for-96-each-if-he-106148.html
[Reveal] Spoiler: OA

Last edited by Bunuel on 24 Nov 2014, 05:27, edited 1 time in total.
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Re: Bobby bought two shares of stock, which he sold for $96 [#permalink] ### Show Tags 22 Sep 2005, 22:45 c) loss of$8

2 stocks x,y sold for $96 each where 96=x+x/5 and 96 = y-y/5 x=80, y=120 x+y=200 stock sold for 96*2=192, therefore loss of$8
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23 Sep 2005, 03:22
IT's C,

we have 0.8x=96 ->x=120 -> Loss -24
and 1.2x=96 ->x=80 -> Profit +16

Subtraction yields -8 i.e C
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24 Nov 2014, 05:27
Bobby bought 2 shares, and which he sold for $96 each. If he had a profit of 20% on the sale of one of the shares but a loss of 20% on the sale of the other share, then on the sale of both shares Bobby had... A) a profit of 10 B) a profit of 8 C) a loss of 8 D) a loss of 10 E) neither a profit nor a loss Cost of the first stock: 96/1.2=80, so profit from it 96-80=16 Cost of the second stock: 96/0.8=120, so loss from it 96-120=-24 Overall loss 16-24=-8 Answer: C. OPEN DISCUSSION OF THIS QUESTION IS HERE: bobby-bought-2-shares-and-which-he-sold-for-96-each-if-he-106148.html _________________ Re: Bobby bought two shares of stock, which he sold for$96   [#permalink] 24 Nov 2014, 05:27
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