If the total price of n equally priced shares of a certain

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If the total price of n equally priced shares of a certain [#permalink]

22 Jan 2013, 05:36

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If the total price of n equally priced shares of a certain stock was $12,000, what was the price per share of the stock?

(1) If the price per share of the stock had been $1 more, the total price of the n shares would have been $300 more.

(2) If the price per share of the stock had been $2 less, the total price of the n shares would have been 5 percent less.

Please provide a detailed solution, So I can use the approach for problem solving questions. Thanks!

[Reveal] Spoiler: OA

Last edited by walker on 20 Feb 2013, 09:44, edited 2 times in total.

Edited the question.

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Re: If the total price of n equally priced shares of a certain [#permalink]

22 Jan 2013, 06:12

If the total price of n equally priced shares of a certain stock was $12,000, what was the price per share of the stock?

(Price per share) = (Total price)/(The number of shares) = $12,000/n. So, basically we need to find the value of n.

(1) If the price per share of the stock had been $1 more, the total price of the n shares would have been $300 more. $1 increase per share results in $300 increase of the total price, thus there must be 300 shares. Sufficient..

(2) If the price per share of the stock had been $2 less, the total price of the n shares would have been 5 percent less. $2 decrease per share results in 0.05*12,000=$600 decrease of the total price, thus there must be 600/2=300 shares. Sufficient.

Answer: D.
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Re: If the total price of n equally priced shares of a certain [#permalink]

23 Jan 2013, 01:20

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Consider the price per share as 'x'.
Given that, x*n = 12000

(1) If the price per share of the stock had been $1 more, the total price of the n shares would have been $300 more.
SUFFICIENT: this says (x+1)*n=12000+300. As we know xn=12000, we can solve this equation to find out x & n. (no need to solve further)

(2) If the price per share of the stock had been $2 less, the total price of the n shares would have been 5 percent less.
SUFFICIENT: this says (x-2)*n=12000 (1-\frac{5}{100}). As we know xn=12000, we can solve this equation to find out x & n. (no need to solve further)

Hence choice(D) is the answer.
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Re: If the total price of n equally priced shares of a certain [#permalink] 23 Jan 2013, 01:20

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If the total price of n equally priced shares of a certain

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If the total price of n equally priced shares of a certain

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