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Bobby bought two shares of stock, which he sold for $96

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Bobby bought two shares of stock, which he sold for $96 [#permalink] New post 22 Sep 2005, 20:59
00:00
A
B
C
D
E

Difficulty:

(N/A)

Question Stats:

100% (02:55) correct 0% (00:00) wrong based on 3 sessions
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
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 [#permalink] New post 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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 [#permalink] New post 23 Sep 2005, 01:10
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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 [#permalink] New post 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
  [#permalink] 23 Sep 2005, 03:22
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Bobby bought two shares of stock, which he sold for $96

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