Bobby bought two shares of stock which he sold for $96 each. : Quant Question Archive [LOCKED] Check GMAT Club Decision Tracker for the Latest School Decision Releases http://gmatclub.com/AppTrack  It is currently 19 Jan 2017, 06:17 # LIVE NOW: Chat with Admission Manager and Current Student of NUS SIngapore - Join Chat Room to Participate. ### GMAT Club Daily Prep #### Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email. Customized for You we will pick new questions that match your level based on your Timer History Track Your Progress every week, we’ll send you an estimated GMAT score based on your performance Practice Pays we will pick new questions that match your level based on your Timer History #### Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here. ### Request Expert Reply # Events & Promotions ###### Events & Promotions in June Open Detailed Calendar # Bobby bought two shares of stock which he sold for$96 each.

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Bobby bought two shares of stock which he sold for $96 each. [#permalink] ### Show Tags 25 Nov 2007, 19:56 This topic is locked. If you want to discuss this question please re-post it in the respective forum. Bobby bought two shares of stock which he sold for$96 each. If he had a profit of 20% on the sale of one the shares but a loss of 20% 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 $8 D: A loss of$10
E: Neither a profit / loss
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25 Nov 2007, 20:03
C. A loss of $8 you know right away that the answer is going to be either C or D since he will lose money. If he loses 20% of a number to get to$96 he will be losing more money than the 20% gained from a smaller number. This is just common sense because 20% of a larger number is more than 20% of a smaller number. The rest is finding the exact loss.

1.2x = 96
x = 80

gain of $16 .8x = 96 x = 120 loss of$24

16 - 24 = -8 or a loss of $8 sorry if the explanation is kind of week. I have a tendency to "just solve" problems without thinking of the steps, so it's hard to explain my logic sometime. 25 Nov 2007, 20:03 Display posts from previous: Sort by # Bobby bought two shares of stock which he sold for$96 each.

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