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Re: Bobby bought two shares of stock, which he sold for $96 [#permalink]
24 Nov 2014, 02:44
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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