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Last year Leo bought two paintings. This year he sold them for $2,000

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Last year Leo bought two paintings. This year he sold them for $2,000  [#permalink]

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New post 25 Nov 2018, 23:17
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A
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E

Difficulty:

  55% (hard)

Question Stats:

50% (01:58) correct 50% (01:37) wrong based on 26 sessions

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Last year Leo bought two paintings. This year he sold them for $2,000 each. On one, he made a 25% profit, and on the other he had a 25% loss. What was his net loss or profit?

A. He broke even.
B. He lost less than $100.
C. He lost more than $100.
D. He earned less than $100.
E. He earned more than $100.

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Re: Last year Leo bought two paintings. This year he sold them for $2,000  [#permalink]

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New post 26 Nov 2018, 22:01
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Bunuel wrote:
Last year Leo bought two paintings. This year he sold them for $2,000 each. On one, he made a 25% profit, and on the other he had a 25% loss. What was his net loss or profit?

A. He broke even.
B. He lost less than $100.
C. He lost more than $100.
D. He earned less than $100.
E. He earned more than $100.



Price of painting with 25% profit= 2000/1.25= 1600$
Price of painting with loss 25%=2000/.75= 2666$
total invested amount= $ 4266

total SP= $4000
so net gain or loss= SP-CP= 4000-4266= (-) $266, option C
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Re: Last year Leo bought two paintings. This year he sold them for $2,000  [#permalink]

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New post 01 Dec 2018, 11:53
Is there any other way?
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Re: Last year Leo bought two paintings. This year he sold them for $2,000 &nbs [#permalink] 01 Dec 2018, 11:53
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Last year Leo bought two paintings. This year he sold them for $2,000

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