GMAT Prep2 ?? (bobbystocks)

You are given the final selling point, $96/share. One share was sold at a 20% profit meaning $96=1.2*Original Price, so the the Original Price=96/1.2 (convert 1.2 to the fraction 6/5), OP=96/(6/5), OP=96*(5/6), OP = $80, which gives a profit of +$16. Share 2 is sold at a 20% loss indicating $96=.8*OP, OP=96/.8, OP=96*(5/4), OP=$120, so share to gives a profit of -$24. Combine the profits to get total profit $16-$24=-$8 profit.

2 share were $96 each
we have to calculate profit and loss for each share

for 1st share=$96
our equation will be for 20% profit
x+.20x=96
1.20x=96
x=96/1.20
x=80 which means $80 was orignal price; so profit is(96-81)=$16
in a same way for for 2nd share=$96
our equation will be for 20% loss
x-.20x=96
.80x=96
x=96/.80
x=120 which means $120 was original price; so loss is(120-96)=$24
in order to find his gain or loss subtract 24-16 u will get 8 loss.

for the share sold at $96 and having a profit of 20%, purchase price(pp)
=> 1.2x=96
=> x=96/1.2=80

for the share sold at $96 and having a loss of 20%, purchase price(pp)
=> 0.8x=96
=> x==96/0.8=120

so, purchase price of both shares=120+80=$200
selling price (sp)=96+96=192

therefore, loss= 200-192=$8