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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 [#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!
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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. _________________ Senior Manager Joined: 27 Jun 2012 Posts: 413 Followers: 23 Kudos [?]: 194 [1] , given: 171 Re: If the total price of n equally priced shares of a certain [#permalink] 23 Jan 2013, 01:20 1 This post received KUDOS 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)

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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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