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

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Director
Joined: 03 Sep 2006
Posts: 864

Kudos [?]: 1105 [0], given: 33

Bobby bought two shares of stock, which he sold for \$96 [#permalink]

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17 Jun 2007, 19:55
00:00

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Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 4 sessions

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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

Kudos [?]: 1105 [0], given: 33

VP
Joined: 08 Jun 2005
Posts: 1143

Kudos [?]: 254 [0], given: 0

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18 Jun 2007, 08:54
96*5/6+96*5/4 = 80+120 = 200 (stock value on day one)

200 - 96*2 = 8 (loss)

Kudos [?]: 254 [0], given: 0

18 Jun 2007, 08:54
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