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Source: Manhattan Prep
If a brokerage firm charged a commission of 2% of the total dollar amount of a certain trade, what was the total dollar amount of that trade?
1) The dollar amount of the trade minus the brokerage firm's commission was $88000.
2) The brokerage firm's commission decreased the profit earned on the trade by 20%.
The OA is A
If a brokerage firm charged a commission of 2% of the total dollar amount of a certain trade, what was the total dollar amount of that trade?
1) The dollar amount of the trade minus the brokerage firm's commission was $88000.
2) The brokerage firm's commission decreased the profit earned on the trade by 20%.
The OA is A
