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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, 04:30
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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 Kudos for a correct solution.
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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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17 Apr 2015, 04:48
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
24 loss  16 profit = 8 loss.
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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17 Apr 2015, 04:53
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 = 12096 20? $16 profit on the sale of 1 share. $ Loss of the share sold at 20% loss= 8096 20? $24 loss on the sale of 1 share. 1624=Loss of $8 Answer: 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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17 Apr 2015, 09:30
Sold both shares (A+B) for?
96 + 96 = 192
Bought both shares for?
A: 96 / (6/5) = 16 * 5 = 80
B: 96 / (4/5) = 24 * 5 = 120
A + B = 200
Profit: 192  200 = 8
Answer: 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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17 Apr 2015, 21:04
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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Re: John bought 2 shares and sold them for $96 each. If he had a profit of
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18 Apr 2015, 14:46
For the share in profit,
1.2x=96 x=80
for the share in loss,
0.8y=96 y=120
Total C.P = x+y = 120+20=200
Total S.P = 96 *2 = 192
Loss = 200  192= $8
Answer 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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19 Apr 2015, 03:38
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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Re: John bought 2 shares and sold them for $96 each. If he had a profit of
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20 Apr 2015, 05:18
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. VERITAS PREP OFFICIAL SOLUTIONNote 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 (96/100)*Cost Price = Sale Price Cost Price = $200 Loss = $200 – $192 = $8 Answer (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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03 Nov 2015, 20:50
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: 08 Oct 2018, 00:36
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 For EQUAL SELLING PRICE and EQUAL %age PROFIT AND LOSS ON ARTICLES the resultant loss or profit is calculated as followsThe 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 = 200192 = $8 Answer: Option C ALTERNATIVECost 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 = 200192 = $8 Answer: Option C
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Originally posted by GMATinsight on 04 Nov 2015, 03:26.
Last edited by GMATinsight on 08 Oct 2018, 00:36, edited 1 time in total.



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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, 12:05
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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Re: John bought 2 shares and sold them for $96 each. If he had a profit of
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08 Oct 2018, 00:36
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
Kudos for a correct solution. HarikaminiPlease find answer to your question posted as PM 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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Re: John bought 2 shares and sold them for $96 each. If he had a profit of
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17 May 2019, 09:00
chetan2u wrote: 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 Hi Chetan, Your approach is short and sweet and I like it. Can you solve this problem, just by using conceptual approach? (without using the math I mean) If it is possible, can you give a try? Thanks in advance!




Re: John bought 2 shares and sold them for $96 each. If he had a profit of
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