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If x equally priced shares of a certain stock were valued

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Status: Preparing for the 4th time -:(
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If x equally priced shares of a certain stock were valued [#permalink] New post 15 Mar 2012, 00:30
00:00
A
B
C
D
E

Difficulty:

  35% (medium)

Question Stats:

58% (01:55) correct 41% (01:21) wrong based on 41 sessions
If x equally priced shares of a certain stock were valued at $25,000 on Monday, what was the value per share of the stock on Friday?

(1) The value of each share increased by 3% between Monday and Friday.
(2) The value of each share increased by $1.50 between Monday and Friday.
[Reveal] Spoiler: OA

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Re: Value per share [#permalink] New post 15 Mar 2012, 01:25
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Expert's post
If x equally priced shares of a certain stock were valued at $25,000 on Monday, what was the value per share of the stock on Friday?

Notice that we are asked to find the value PER SHARE on Monday.

(1) The value of each share increased by 3% between Monday and Friday. Not sufficient.

(2) The value of each share increased by $1.50 between Monday and Friday. Not sufficient.

(1)+(2) Since 3% increase resulted in $1.50 increase in value then (old price per share)*0.03=$1.50 --> old price per share=$50 --> new price per share $50*1.03=$51.5. Sufficient.

Answer: C.
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Re: Value per share   [#permalink] 15 Mar 2012, 01:25
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