An investor bought two shares of stock, which he sold for $36 each.
An investor bought two shares of stock, which he sold for $36 each. If he had a profit of 20% on one of the shares and a loss of 20% on the other share, then on the sale of both shares combined, the investor had:
Answer/Solution
a loss of $3
Steps/Work
The cost of the first stock was 36/1.2=30, so the profit from it is 6.
The cost of the second stock was 36/0.8=45, so loss from it is 9.
Overall the loss is $3.
The answer is C.
The cost of the second stock was 36/0.8=45, so loss from it is 9.
Overall the loss is $3.
The answer is C.