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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]  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. _________________ Thanks, PraPon VOTE: vote-best-gmat-practice-tests-excluding-gmatprep-144859.html Tough RCs: Passage1 | Passage2 | Passage3 | Passage4 | Passage5 | Passage6 | Passage7 GMAT Club team member Joined: 02 Sep 2009 Posts: 12123 Followers: 1879 Kudos [?]: 10139 [0], given: 970 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.

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Re: If the total price of n equally priced shares of a certain   [#permalink] 22 Jan 2013, 06:12
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