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# Bobby bought two shares of stock, which he sold for $96  Question banks Downloads My Bookmarks Reviews Important topics Author Message TAGS: Senior Manager Joined: 27 Aug 2005 Posts: 332 Location: Montreal, Canada Followers: 2 Kudos [?]: 49 [0], given: 0 Bobby bought two shares of stock, which he sold for$96 [#permalink]  22 Sep 2005, 20:59
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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, 05:27, edited 1 time in total. Added the OA.  Kaplan Promo Code Knewton GMAT Discount Codes GMAT Pill GMAT Discount Codes Manager Joined: 15 Jul 2005 Posts: 105 Followers: 1 Kudos [?]: 4 [0], given: 0 Re: Bobby bought two shares of stock, which he sold for$96 [#permalink]  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 Manager Joined: 06 Aug 2005 Posts: 197 Followers: 3 Kudos [?]: 6 [0], given: 0 Re: Bobby bought two shares of stock, which he sold for$96 [#permalink]  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.
Senior Manager
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Re: Bobby bought two shares of stock, which he sold for $96 [#permalink] 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 GMAT Club Legend Joined: 09 Sep 2013 Posts: 6141 Followers: 342 Kudos [?]: 70 [0], given: 0 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

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, 05:27 Similar topics Replies Last post Similar Topics: 4 Jim picked a number of pears, each of which he sold, canned, or poache 4 09 Jul 2015, 03:25 8 John bought 2 shares and sold them for$96 each. If he had a profit of 7 17 Apr 2015, 03:30
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