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Bobby bought two shares of stock, which he sold for $96 [#permalink]
22 Sep 2005, 20:59

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This post was BOOKMARKED

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Difficulty:

55% (hard)

Question Stats:

59% (02:04) correct
41% (01:53) wrong based on 97 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

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

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Re: Bobby bought two shares of stock, which he sold for $96 [#permalink]
24 Nov 2014, 05:27

Expert's post

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

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