Hi, I am running into an issue. I cannot figure out the answer for this question :
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Question:
Hi, I am running into an issue. I cannot figure out the answer for this question :
If an investor can earn 20 percent on underpriced IPOs, but will lose 10 percent on overpriced IPOs in which he was awarded $2,000 worth of the overpriced issue, how much of the underpriced issue must he be awarded in order to gain $500?
a) 1,500
b) 2,500
c) 3,500
d) 10,000
Thanks in advance
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