Bobby bought two 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 the sale of both shares combined Bobby had?


a profit of $10

a profit of $8

a loss of $8

a loss of $10

neither a profit nor a loss

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Prep2007E2-PS