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GMAT Prep - Q35

This topic has 3 member replies
maxim730 Senior | Next Rank: 100 Posts Default Avatar
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GMAT Prep - Q35

Post Wed Mar 14, 2007 6:24 pm
Elapsed Time: 00:00
  • Lap #[LAPCOUNT] ([LAPTIME])
    See attached Image. I'm having trouble setting up an equation for the problem.. I'm missing something simple.

    Thanks!!!

    Answer: C
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    jayhawk2001 Community Manager
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    Post Wed Mar 14, 2007 8:27 pm
    Let the buying price for the stocks be x and y resp.

    1.2x = 96, so x = 80. Hence profit = 16$
    .8y = 96, so y = 120. Hence loss = 24$

    So net loss = 8$

    Neo2000 Legendary Member
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    Post Wed Mar 14, 2007 11:59 pm
    This kind of a transaction will always result in a loss and the %loss will be of the form

    (X^2)/100 where X = %Profit or %Loss

    In this case (20^2)/100 = 400/100 = 4% loss

    Post Sat Nov 04, 2017 11:38 pm
    let the cost price of the two shares of stock be x and y.
    on X, he had a profit of 20% and on Y, he had a loss of 20%.
    since selling price= cost price +/- cost price (%profit).
    this implies that
    selling price of the first share = x + x(20%) (profit)
    96= x + 0.2x
    96= 1.2x
    $$x=\frac{96}{1.2}=$80$$
    Also, the selling price of the second share = y - y(20%) (loss)
    96= y - 0.2y
    96= 0.8y
    $$y=\frac{96}{0.8}=$120$$
    Now, on the sale of both shares combined, selling prices= $(96 + 96) = $192
    since profit/loss = x+y = 120+80= $200
    since profit/loss = selling price - cost price (192-200) = -$8 (loss)
    and percent profit/loss = (profit/loss amount * 100%) / cost price
    $$=\frac{8}{200}\cdot100\%\ =4\%$$

    therefore, he had a loss of 4% on both shares combined which is equivalent to a loss of $8.

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