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Senior Manager
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From May 1, 1960, to May 1, 1975, the closing price of a [#permalink]
 17 Jan 2006, 18:52
Question Stats:
82% (01:47) correct
17% (00:01) wrong based on 3 sessions
From May 1, 1960, to May 1, 1975, the closing price of a share of stock X doubled. What was the closing price of a share of stock X on May 1, 1960? (1) From May 1, 1975 to May 1, 1984, the closing price of a share of stock X doubled. (2) From May 1, 1975 to May 1, 1984, the closing price of a share of stock X increased by $4.50
Last edited by Bunuel on 30 Jan 2013, 04:57, edited 1 time in total.
Edited the question and added OA.
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VP
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C.
Let closing price in 1960 be x.
I..Insuff. All we know is that price in 60,75,84 is x,2x,4x.
II. Insuff. All we know is that price in 84 is 2x + 4.50.
I + II, gives 4x = 2x + 4.50...SUFF.
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Director
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C it is
a) Insuuff we only know x, 2x,4x
b) we only know that 2x+4.5
combine and we know that 4x=2x+4.5
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Senior Manager
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1960 x
1975 2x
1985 Y
what is x
1) Y= 2*2x does not answer x
2) Y -2x = 4.5 can not solve for x
but with 1 and 2 to gather
4x = 4.5 +2x
Both togather are sufficient!
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CEO
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1960 = x
1975 = 2x
1984 = y
St1: y = 4x. Can not find out x. So INSUFF
St2: y = 2x+4.5. Can not find out x. So INSUFF
Combined: two variables and two equations. Solve for x
4x = 2x + 4.5
x = 2.25
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SAID BUSINESS SCHOOL, OXFORD - MBA CLASS OF 2008
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Senior Manager
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Re: From May 1, 1960, to May 1, 1975, the closing price of a [#permalink]
30 Jan 2013, 04:47
so the translation of the second statement is x+x+4.5?
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GMAT Club team member
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Re: From May 1, 1960, to May 1, 1975, the closing price of a [#permalink]
30 Jan 2013, 05:02
fozzzy wrote: From May 1, 1960, to May 1, 1975, the closing price of a share of stock X doubled. What was the closing price of a share of stock X on May 1, 1960?
(1) From May 1, 1975 to May 1, 1984, the closing price of a share of stock X doubled.
(2) From May 1, 1975 to May 1, 1984, the closing price of a share of stock X increased by $4.50
so the translation of the second statement is x+x+4.5? Yes. If we assume that the price in 1960 was $x, then the price in 1975 would be $2x. From (2) the price in 1984 was 2x+4.5.
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Re: From May 1, 1960, to May 1, 1975, the closing price of a
[#permalink]
30 Jan 2013, 05:02
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