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# Bobby bought two shares of stock which he sold for $96 each.  post reply Question banks Downloads My Bookmarks Reviews Important topics Author Message Intern Joined: 16 Nov 2007 Posts: 7 Followers: 0 Kudos [?]: 0 [0], given: 0 Bobby bought two shares of stock which he sold for$96 each. [#permalink]

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25 Nov 2007, 20:56
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 Director Joined: 12 Jul 2007 Posts: 861 Followers: 17 Kudos [?]: 307 [0], given: 0 ### Show Tags 25 Nov 2007, 21:03 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, 21:03
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