Find all School-related info fast with the new School-Specific MBA Forum

It is currently 25 Oct 2014, 05:57

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

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

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
Director
Director
avatar
Joined: 29 Nov 2012
Posts: 929
Followers: 12

Kudos [?]: 314 [0], given: 543

If the total price of n equally priced shares of a certain [#permalink] New post 22 Jan 2013, 04:36
00:00
A
B
C
D
E

Difficulty:

  15% (low)

Question Stats:

79% (01:45) correct 21% (01:09) wrong based on 48 sessions
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

_________________

Click +1 Kudos if my post helped...

Amazing Free video explanation for all Quant questions from OG 13 and much more http://www.gmatquantum.com/og13th/

GMAT Prep software What if scenarios gmat-prep-software-analysis-and-what-if-scenarios-146146.html


Last edited by walker on 20 Feb 2013, 08:44, edited 2 times in total.
Edited the question.
Expert Post
1 KUDOS received
Math Expert
User avatar
Joined: 02 Sep 2009
Posts: 23421
Followers: 3614

Kudos [?]: 28950 [1] , given: 2874

Re: If the total price of n equally priced shares of a certain [#permalink] New post 22 Jan 2013, 05:12
1
This post received
KUDOS
Expert's post
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.
_________________

NEW TO MATH FORUM? PLEASE READ THIS: ALL YOU NEED FOR QUANT!!!

PLEASE READ AND FOLLOW: 11 Rules for Posting!!!

RESOURCES: [GMAT MATH BOOK]; 1. Triangles; 2. Polygons; 3. Coordinate Geometry; 4. Factorials; 5. Circles; 6. Number Theory; 7. Remainders; 8. Overlapping Sets; 9. PDF of Math Book; 10. Remainders; 11. GMAT Prep Software Analysis NEW!!!; 12. SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) NEW!!!; 12. Tricky questions from previous years. NEW!!!;

COLLECTION OF QUESTIONS:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS ; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
25 extra-hard Quant Tests

Get the best GMAT Prep Resources with GMAT Club Premium Membership

2 KUDOS received
Current Student
User avatar
Joined: 27 Jun 2012
Posts: 418
Concentration: Strategy, Finance
Followers: 46

Kudos [?]: 370 [2] , given: 182

Re: If the total price of n equally priced shares of a certain [#permalink] New post 23 Jan 2013, 00:20
2
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)

Hence choice(D) is the answer.
_________________

Thanks,
PraPon

Tough 700+ Level RCs: Passage1 | Passage2 | Passage3 | Passage4 | Passage5 | Passage6 | Passage7
Reading Comprehension notes: Click here
VOTE: vote-best-gmat-practice-tests-excluding-gmatprep-144859.html
PowerScore CR Bible - Official Guide 13 Questions Set Mapped: Click here

CEO
CEO
User avatar
Joined: 09 Sep 2013
Posts: 2863
Followers: 207

Kudos [?]: 43 [0], given: 0

Premium Member
Re: If the total price of n equally priced shares of a certain [#permalink] New post 23 Jan 2014, 07:03
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
_________________

GMAT Books | GMAT Club Tests | Best Prices on GMAT Courses | GMAT Mobile App | Math Resources | Verbal Resources

Re: If the total price of n equally priced shares of a certain   [#permalink] 23 Jan 2014, 07:03
    Similar topics Author Replies Last post
Similar
Topics:
3 Experts publish their posts in the topic At the end of the first quarter, the share price of a certain mutual Bunuel 3 30 Sep 2014, 08:50
6 Experts publish their posts in the topic If the total price of n equally priced shares of a certain s Bunuel 10 21 Jan 2014, 03:15
3 Experts publish their posts in the topic If x equally priced shares of a certain stock were valued enigma123 2 15 Mar 2012, 00:30
Experts publish their posts in the topic If the total price of n equally priced stock shares is p, rxs0005 3 25 Nov 2010, 08:30
2 The total price of n (n > 1) equally priced copies of a nikki25 2 30 Nov 2008, 18:17
Display posts from previous: Sort by

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

  Question banks Downloads My Bookmarks Reviews Important topics  


cron

GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.