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gmat prep question

by yvonne12 » Wed Apr 25, 2007 11:42 am
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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by RAGS » Wed Apr 25, 2007 12:11 pm
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
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gmat prep question

by yvonne12 » Wed Apr 25, 2007 4:43 pm
could you work out the formula in this problem

is it 1.20 * .80/100 because Im not getting the answer
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by ark » Wed Apr 25, 2007 10:18 pm
No u cant use the formula x*x/100 when there is different profit and loss percentage is given...

x*x/100 can be used only when profit is x% and loss is x%... the result of the formula is loss %

total loss% = (x * x) / 100
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by Cybermusings » Thu Apr 26, 2007 2:58 am
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%
Last edited by Cybermusings on Sat Apr 28, 2007 1:27 am, edited 1 time in total.
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by rajeshvellanki » Thu Apr 26, 2007 10:13 am
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

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by rohanpande » Thu Oct 25, 2012 11:25 am
Cybermusings wrote:
loss % = (8/200) * 100 = 4%
loss % is not asked, but rather a value is.

SP-CP = Profit or Loss

in this case, SP-CP = 192-200 = -8.
hence, a loss of $8
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by Jim@StratusPrep » Fri Oct 26, 2012 9:18 am
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
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