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16 Aug 2018, 07:54
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GMATFIGHTER
Total sale through shares = 100 * 96 = $9600
50 shares @20% profit, hence cost of these shares per share = 96/1.2 = $80
Total cost of these shares = 50 * 80 = $4000
50 shares @20% loss, hence cost of these shares per share = 96/0.8 = $120
Total cost of these shares = 50 * 120 = $6000
Total cost of 100 shares = $10,000
Hence there is a loss of $400
Answer C.
Thanks,
GyM
GMAT695
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08 Jun 2024, 17:25
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For 50 stocks,
96 = 0.80 CP
CP = 120
For another 50 stocks,
96 = 1.20 CP
CP =80
100 stocks were sold for $96 each , 96 X 100 = 9600.
Total CP,
( 120 X 50 ) + ( 80 X 50 )
= 10,000
Loss = 10,000 - 9600 = 400. ( C )
96 = 0.80 CP
CP = 120
For another 50 stocks,
96 = 1.20 CP
CP =80
100 stocks were sold for $96 each , 96 X 100 = 9600.
Total CP,
( 120 X 50 ) + ( 80 X 50 )
= 10,000
Loss = 10,000 - 9600 = 400. ( C )
