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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