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22 Sep 2005, 21:59
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45% (medium)

Question Stats:

65% (02:09) correct 35% (01:47) wrong based on 159 sessions

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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, 06:27, edited 1 time in total. Added the OA. Manager Joined: 15 Jul 2005 Posts: 105 Followers: 1 Kudos [?]: 8 [0], given: 0 Re: Bobby bought two shares of stock, which he sold for$96 [#permalink]

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22 Sep 2005, 23:45
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 Manager Joined: 06 Aug 2005 Posts: 197 Followers: 3 Kudos [?]: 10 [0], given: 0 Re: Bobby bought two shares of stock, which he sold for$96 [#permalink]

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23 Sep 2005, 02:10
If you are running out of time on this sort of question:

when it is worded this way round you always make a loss.
so you only have to guess between two options not five.
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24 Nov 2014, 03:44
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Re: Bobby bought two shares of stock, which he sold for $96 [#permalink] ### Show Tags 24 Nov 2014, 06:27 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

OPEN DISCUSSION OF THIS QUESTION IS HERE: bobby-bought-2-shares-and-which-he-sold-for-96-each-if-he-106148.html
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Re: Bobby bought two shares of stock, which he sold for $96 [#permalink] 24 Nov 2014, 06:27 Similar topics Replies Last post Similar Topics: 1 A stock trader originally bought 300 shares 1 09 Jun 2016, 12:02 John bought 2 shares and sold them for$96 each. If he had a profit of 2 03 Nov 2015, 13:10
9 John bought 2 shares and sold them for $96 each. If he had a profit of 7 17 Apr 2015, 04:30 15 Bobby bought 2 shares, and which he sold for$96 each. If he 15 11 Dec 2010, 15:44