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bobby bought 2 shares of stock , which he sold for $96 each. if he had a profit of 20 percent on the sale of one of the shares but a loss of 20 percent on the sale of the other share then on both shares combined bobby had?
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RAGS
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There is general formula for solution to such problems
If u have two things which costs same are sold one at x% profit and another at x% loss then theere will be aloss of x*x / 100 ( in percent ) on the transaction
If u have two things which costs same are sold one at x% profit and another at x% loss then theere will be aloss of x*x / 100 ( in percent ) on the transaction
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Cybermusings
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96 = x - 20x/100
80x/100 = 96
x = (96*100) / 80 = 120
96 = y + 20y/100
(96 * 100) / 120 = y
y = 80
total cost = 80 + 120 = 200
total SP = 96*2 = 192
loss % = (8/200) * 100 = 4%
80x/100 = 96
x = (96*100) / 80 = 120
96 = y + 20y/100
(96 * 100) / 120 = y
y = 80
total cost = 80 + 120 = 200
total SP = 96*2 = 192
loss % = (8/200) * 100 = 4%
Last edited by Cybermusings on Sat Apr 28, 2007 1:27 am, edited 1 time in total.
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rajeshvellanki
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here is my take on in.
Basically SP-CP=Profit
case1: 20% profit
96-x=x/5
6x/5=96
x=80
20%(80)=16$ profit
case2:20% losss
Cp-SP=loss
x-96=x/5
4x/5=96
x=120
20%(120)=24$ loss
Case2-case1=24-16=8$ loss
What are the answer choices?
Basically SP-CP=Profit
case1: 20% profit
96-x=x/5
6x/5=96
x=80
20%(80)=16$ profit
case2:20% losss
Cp-SP=loss
x-96=x/5
4x/5=96
x=120
20%(120)=24$ loss
Case2-case1=24-16=8$ loss
What are the answer choices?
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rohanpande
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loss % is not asked, but rather a value is.Cybermusings wrote:
loss % = (8/200) * 100 = 4%
SP-CP = Profit or Loss
in this case, SP-CP = 192-200 = -8.
hence, a loss of $8
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Jim@StratusPrep
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For the profit:
1.2x = 96, or x = 80 for a profit of 16 (96-80)
For the loss:
.8x = 96, or x =120 for a loss of 24 (96-120)
Net loss is 16 -24 = -8, or an $8 loss
1.2x = 96, or x = 80 for a profit of 16 (96-80)
For the loss:
.8x = 96, or x =120 for a loss of 24 (96-120)
Net loss is 16 -24 = -8, or an $8 loss
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