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John bought 2 shares and sold them for $96 each. If he had a profit of
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17 Apr 2015, 03:30
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John bought 2 shares and sold them for $96 each. If he had a profit of 20% on the sale of one of the shares but a loss of 20% on the sale of the other share, then on the sale of both shares John 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
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17 Apr 2015, 03:48
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John bought 2 shares and sold them for $96 each. If he had a profit of 20% on the sale of one of the shares but a loss of 20% on the sale of the other share, then on the sale of both shares John 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
Sold both shares for $96 each, 1 20% profit, 1 20% loss.
96% for 20% profit: 96 = 1.2x x = 80 96 - 80 = 16 profit
96% for 20% loss: 96 = 0.8x x = 120 120 - 96 = 24 loss
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John bought 2 shares and sold them for $96 each. If he had a profit of
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17 Apr 2015, 03:53
Bunuel wrote:
John bought 2 shares and sold them for $96 each. If he had a profit of 20% on the sale of one of the shares but a loss of 20% on the sale of the other share, then on the sale of both shares John 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 for a correct solution.
$ Profit of the share sold at 20% profit = 120-96 20-? $16 profit on the sale of 1 share.
$ Loss of the share sold at 20% loss= 80-96 20-? $24 loss on the sale of 1 share.
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17 Apr 2015, 20:04
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Bunuel wrote:
John bought 2 shares and sold them for $96 each. If he had a profit of 20% on the sale of one of the shares but a loss of 20% on the sale of the other share, then on the sale of both shares John had
(A) a profit of $10 (B) a profit of $8 (C) a loss of $8 (D) a loss of $10 (E) neither a profit nor a loss
Kudos for a correct solution.
for 2 products ,Whenever selling price is same and there is x% profit on one and x% loss on other then there is loss on whole transaction. Here , for first prodcut 96 = 1.2x x = 80 First Cost price = 80
For second product 96 = 0.8x x = 120 second cost price=120
total cost price =120+80=200 total selling price = 96+96 =192 Hence , loss of 8$
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19 Apr 2015, 02:38
1
Bunuel wrote:
John bought 2 shares and sold them for $96 each. If he had a profit of 20% on the sale of one of the shares but a loss of 20% on the sale of the other share, then on the sale of both shares John 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 for a correct solution.
Cost price of each share=x Sale price of share A=0.8x Therefore, 0.8x=96 x=120 Loss=$24 Sale price of share B=1.2X=96 X=80 Profit=16 Net loss=$8 Answer C
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20 Apr 2015, 04:18
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Bunuel wrote:
John bought 2 shares and sold them for $96 each. If he had a profit of 20% on the sale of one of the shares but a loss of 20% on the sale of the other share, then on the sale of both shares John 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
Note that the question would have been straight forward had the COST price been the same, say $100. A 20% profit would mean a gain of $20 and a 20% loss would mean a loss of $20. Overall, there would have been no profit no loss.
Here the two shares are sold at the same SALE price. One at a profit of 20% on cost price which must be lower than the sale price (to get a profit) and the other at a loss of 20% on cost price which must be higher than the sale price (to get a loss). 20% of a lower amount will be less in dollar terms and hence overall, there will be a loss.
The loss % = (20)^2/100 % = 4%.
But we need the amount of loss, not the percentage of loss.
Total Sale price of the two shares = 2*96 = $192
Since there is a loss of 4%, the 96% of the total cost price must be the total sale price
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03 Nov 2015, 19:50
Bunuel wrote:
John bought 2 shares and sold them for $96 each. If he had a profit of 20% on the sale of one of the shares but a loss of 20% on the sale of the other share, then on the sale of both shares John 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
total CP = 9600/120 + 9600/80 = 80 + 120=200 SP=96*2=192 loss= Rs 8/- C
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John bought 2 shares and sold them for $96 each. If he had a profit of
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Updated on: 07 Oct 2018, 23:36
1
Bunuel wrote:
John bought 2 shares and sold them for $96 each. If he had a profit of 20% on the sale of one of the shares but a loss of 20% on the sale of the other share, then on the sale of both shares John 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
For EQUAL SELLING PRICE and EQUAL %age PROFIT AND LOSS ON ARTICLES the resultant loss or profit is calculated as follows
The situations always lead to loss
Loss% = (%age Profit or loss / 10)^2 = (20/10)^2 = 4% loss
Total Selling Price = 96*2 = $192 Total Cost Price = 192/(0.96) = $200
Loss = 200-192 = $8
Answer: Option C
ALTERNATIVE
Cost price of first share = 96 / 1.2 Cost price of first share = 96 / 0.8
Total Cost price of both shares = (96 / 1.2 )+(96 / 0.8) = $200
Total Loss = 200-192 = $8
Answer: Option C
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Re: John bought 2 shares and sold them for $96 each. If he had a profit of
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01 Sep 2017, 11:05
Bunuel wrote:
John bought 2 shares and sold them for $96 each. If he had a profit of 20% on the sale of one of the shares but a loss of 20% on the sale of the other share, then on the sale of both shares John 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
For the one share earning a 20% profit, we can set up the following equation in which c = cost:
Profit = 0.2c
96 - c = 0.2c
96 = 1.2c
80 = c
Thus, John made 96 - 80 = 16 dollars on the sale.
For the share with a 20% loss, we can set up the following equation in which c = cost:
Profit = -0.2c
96 - c = -0.2c
96 = 0.8c
120 = c
Thus, John lost 120 - 96 = 24 dollars on the sale.
So, overall he lost 8 dollars.
Answer: C
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GMAT Quant Self-Study Course 500+ lessons 3000+ practice problems 800+ HD solutions
Re: John bought 2 shares and sold them for $96 each. If he had a profit of
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07 Oct 2018, 23:36
Bunuel wrote:
John bought 2 shares and sold them for $96 each. If he had a profit of 20% on the sale of one of the shares but a loss of 20% on the sale of the other share, then on the sale of both shares John 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
Since the loss incurred is 4% therefore we can deduce that revenue is only 96% of the cost
i.e. (96/100)*Total Cost = 192
i.e. Total Cost = 192/0/96 = 200
I hope this clears your doubt.
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78% (02:03) correct 
