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

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Director
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Bobby bought two shares of stock, which he sold for $96 [#permalink] New post 17 Jun 2007, 18:55
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C
D
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Bobby bought two shares of stock, which he sold for $96 each. If he had a profit of 20 percent on the sale of one of the shares but a loss of 20 percent on the sale of 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 18 Jun 2007, 07:54
96*5/6+96*5/4 = 80+120 = 200 (stock value on day one)

200 - 96*2 = 8 (loss)

the answer is (C)

:-D
  [#permalink] 18 Jun 2007, 07:54
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Bobby bought two shares of stock, which he sold for $96

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