GMAT Question of the Day - Daily to your Mailbox; hard ones only

 It is currently 08 Dec 2019, 07:31

### GMAT Club Daily Prep

#### Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

# John sold 100 shares of stock for \$96 per share. For half

Author Message
TAGS:

### Hide Tags

Director
Joined: 14 Dec 2017
Posts: 509
Location: India
Re: John sold 100 shares of stock for \$96 per share. For half  [#permalink]

### Show Tags

16 Aug 2018, 07:54
GMATFIGHTER wrote:
John sold 100 shares of stock for \$96 per share. For half his shares, this represented a 20% profit; for the other half, this represented a 20% loss. What was the net gain or net loss on this sale of stock?

A. No loss or gain
B. Gain of \$400
C. Loss of \$400
D. Gain of \$800
E. Loss of \$800

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

Thanks,
GyM
_________________
Re: John sold 100 shares of stock for \$96 per share. For half   [#permalink] 16 Aug 2018, 07:54

Go to page   Previous    1   2   [ 21 posts ]

Display posts from previous: Sort by