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GMAT Prep - Q35

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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

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