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John sold 100 shares of stock for $96 per share. For half [#permalink]
31 Jan 2010, 13:29
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Difficulty:
45% (medium)
Question Stats:
64% (02:45) correct
36% (01:39) wrong based on 195 sessions
John sold 100 shares of stock for $96 per share. For half his shares, this represented a 20% profit; for the other half, this represented a 20% loss. What was the net gain or net loss on this sale of stock?
A. No loss or gain B. Gain of $400 C. Loss of $400 D. Gain of $800 E. Loss of $800
Re: What's the fastest way to asnwer this problem? [#permalink]
31 Jan 2010, 13:49
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Expert's post
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GMATFIGHTER wrote:
John sold 100 shares of stock for $96 per share. For half his shares, this represented a 20% profit; for the other half, this represented a 20% loss. What was the net gain or net loss on this sale of stock?
A. No loss or gain B. Gain of $400 C. Loss of $400 D. Gain of $800 E. Loss of $800
Strange wording. Anyway:
Cost of the profitable stock: x=96/1.2=80, so profit from it 96-80=16. Total profit 50*16=800 Cost of the non-profitable stock: y=96/0.8=120, so loss from it 96-120=-24. Total loss 50*(-24)=-1200
Re: What's the fastest way to asnwer this problem? [#permalink]
31 Jan 2010, 13:53
1
This post received KUDOS
GMATFIGHTER wrote:
John sold 100 shares of stock for $96 per share. For half his shares, this represented a 20% profit; for the other half, this represented a 20% loss. What was the net gain or net loss on this sale of stock?
a) No loss or gain
b) Gain of $400
c) Loss of $400
d) Gain of $800
e) Loss of $800
Would you guys please show me a short cut to answer this problem? A much faster approach would be appreciated! Thanks!
50 shares for 20 % loss and 50 share for 20 % profit.
For profit - > 96 = 120 % of x hence x = 80 , total profit = 50 x (96-80) = 50 x 16 For Loss - > 96 = 80 % of y hence y = 120, total loss = 50 x (120-96) = 50 x 24
Re: What's the fastest way to asnwer this problem? [#permalink]
31 Jan 2010, 22:48
GMATFIGHTER wrote:
John sold 100 shares of stock for $96 per share. For half his shares, this represented a 20% profit; for the other half, this represented a 20% loss. What was the net gain or net loss on this sale of stock?
a) No loss or gain
b) Gain of $400
c) Loss of $400
d) Gain of $800
e) Loss of $800
Would you guys please show me a short cut to answer this problem? A much faster approach would be appreciated! Thanks!
Total Selling Price = $9600
For 50 shares it is 20% profit and for other 50 it is 20% Loss.
Re: What's the fastest way to asnwer this problem? [#permalink]
14 Dec 2013, 13:14
Bunuel - apologies. But, I am struggling on this question from Veritas Arithmetic guide. See, Profit = S.P - C.P and after taking C.P as x for 1 item, I am not getting it right. Can you please explain? _________________
Re: What's the fastest way to asnwer this problem? [#permalink]
16 Dec 2013, 01:33
Expert's post
enigma123 wrote:
Bunuel - apologies. But, I am struggling on this question from Veritas Arithmetic guide. See, Profit = S.P - C.P and after taking C.P as x for 1 item, I am not getting it right. Can you please explain?
Can you please elaborate or show your work? Thank you. _________________
First of all, John sold ALL 100 shares of stock for $96 per share, not only 50 of them.
Next, cost (CP) of the profitable stock was 96/1.2 = $80 and the cost of the non-profitable stock was 96/0.8 = $120. Thus the profit was 50*(96-80) = $800 and the loss was 50*(120-96) = $1,200, which give s the overall loss of $400.
John sold 100 shares of stock for $96 per share. For half [#permalink]
14 Sep 2014, 07:56
1
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One will always have loss in such case;
Direct formula:
Total loss amount = \(\frac{2 X P^2}{(100^2 - P^2)\)
Total loss % = \(\frac{P^2}{100^2}\)
X = common sales price of two different items = in this case 96x50 P = % loss = % gain = in this case 20 _________________
Piyush K ----------------------- Our greatest weakness lies in giving up. The most certain way to succeed is to try just one more time. ― Thomas A. Edison Don't forget to press--> Kudos My Articles: 1. WOULD: when to use?| 2. All GMATPrep RCs (New) Tip: Before exam a week earlier don't forget to exhaust all gmatprep problems specially for "sentence correction".
Re: John sold 100 shares of stock for $96 per share. For half [#permalink]
13 Dec 2015, 03:03
1
This post received KUDOS
50 shares for 20 % loss and 50 share for 20 % profit.
For profit - > 96 = 120 % of x hence x = 80 , total profit = 50 x (96-80) = 50 x 16 For Loss - > 96 = 80 % of y hence y = 120, total loss = 50 x (120-96) = 50 x 24
Re: John sold 100 shares of stock for $96 per share. For half [#permalink]
13 Dec 2015, 03:08
1
This post received KUDOS
Bluefalkon wrote:
50 shares for 20 % loss and 50 share for 20 % profit.
For profit - > 96 = 120 % of x hence x = 80 , total profit = 50 x (96-80) = 50 x 16 For Loss - > 96 = 80 % of y hence y = 120, total loss = 50 x (120-96) = 50 x 24
Net loss = 50 x24 - 50 x 16 = 50 (8) = 400
Good Explanation...Thx
gmatclubot
Re: John sold 100 shares of stock for $96 per share. For half
[#permalink]
13 Dec 2015, 03:08
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