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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 10 Apr 2008, 21:15
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

Friends, I think I lost somewhere in. Pls give me a hand! Thanks!
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Re: Loss or profit [#permalink] New post 10 Apr 2008, 21:33
sondenso wrote:
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

Friends, I think I lost somewhere in. Pls give me a hand! Thanks!


profit (or loss) = (2x96) - (96/1.2 + 96/0.8) = 192 - (80 + 120) = -8.00

C. a loss of 8$
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Re: Loss or profit [#permalink] New post 10 Apr 2008, 23:35
GMAT TIGER wrote:
sondenso wrote:
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

Friends, I think I lost somewhere in. Pls give me a hand! Thanks!


profit (or loss) = (2x96) - (96/1.2 + 96/0.8) = 192 - (80 + 120) = -8.00

C. a loss of 8$



GMATTIGER,

Look at my comment on this thread for your post
http://gmatclub.com/forum/7-t62406
There profit was off Selling price here its off Purchase price.
Re: Loss or profit   [#permalink] 10 Apr 2008, 23:35
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Bobby bought two shares of stock, which he sold for 96$

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