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# Last year Mrs. Long received $160 in dividends on her shares  Question banks Downloads My Bookmarks Reviews Important topics Author Message TAGS: Manager Joined: 19 Jun 2003 Posts: 151 Followers: 1 Kudos [?]: 12 [0], given: 0 Last year Mrs. Long received$160 in dividends on her shares [#permalink]  20 Jul 2004, 13:58
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Difficulty:

15% (low)

Question Stats:

76% (02:50) correct 24% (01:34) wrong based on 73 sessions
Last year Mrs. Long received $160 in dividends on her shares of Company X stock, all of which she had held for the entire year. If she had had 12 more shares of the stock last year, she would have received$15 more in total annual dividends. How many shares of the stock did she have last year?

(A) 128
(B) 140
(C) 172
(D) 175
(E) 200
[Reveal] Spoiler: OA
CIO
Joined: 09 Mar 2003
Posts: 463
Followers: 2

Kudos [?]: 35 [0], given: 0

Re: Last year Mrs. Long received $160 in dividends on her shares [#permalink] 20 Jul 2004, 14:43 A 1. Realize that if there were 12 more shares and 15 more dollars, the shares are worth more than a dollar a share, so there would have to be less than 160. Cancel out c, d, e. 2. Now there are at least three ways of doing it, all of which depend on who you are and how you think. I'll put as many below as I can think of - I think they're all fine and expediant. Remember - if you're spending time looking for the most sophisticated way, you could be just wasting time, especially if you know how to do it algebraically. Method 1: Algebra 160/x = 175/(x+12) That's because each stock is worth the same, so if you divide the 160 by the number of shares, or 175 by the number of shares plus 12, you get the same answer. Solve for x = 128. Method 2: 12 more shares cost$15, so that means each one cost $1.25. So 160/1.25. To do this quickly, convert 1.25 into 5/4 (I LOVE FRACTIONS!) Now you've got 160/(5/4) = 160x4/5 = 32x4 = 128. Method 3: Once you've cancelled c,d,e, you can plug in a or b and see what happens. One will work and one won't, but either way, after just one time through, you'll have your answer. Manager Joined: 08 Nov 2007 Posts: 99 Followers: 1 Kudos [?]: 1 [0], given: 0 Re: Stocks [#permalink] 15 Nov 2007, 14:21 yogachgolf wrote: Last year Mrs. Long received$160 in dividends on her shares of Company X stock, all of which she had held for the entire year. If she had had 12 more shares of the stock last year, she would have received $15 more in total annual dividends. How many shares of the stock did she have last year? (A) 128 (B) 140 (C) 172 (D) 175 (E) 200 A - 128$15 for 12 shares - thus $1.25 per share - so 160/1.25 = 128 SVP Joined: 29 Aug 2007 Posts: 2493 Followers: 59 Kudos [?]: 584 [0], given: 19 Re: Stocks [#permalink] 15 Nov 2007, 14:24 1 This post was BOOKMARKED yogachgolf wrote: Last year Mrs. Long received$160 in dividends on her shares of Company X stock, all of which she had held for the entire year. If she had had 12 more shares of the stock last year, she would have received $15 more in total annual dividends. How many shares of the stock did she have last year? (A) 128 (B) 140 (C) 172 (D) 175 (E) 200 A. 128 160/n = 175/(n+12) x = 128 Senior Manager Joined: 30 Aug 2009 Posts: 286 Location: India Concentration: General Management Followers: 3 Kudos [?]: 116 [0], given: 5 Re: question explanation [#permalink] 23 Nov 2009, 06:46 Adigmat wrote: and why ? lets consider Mrs Long has "n" shares of Company X. dividend is paid on the basis of the number of shares held for a certain duration (here one year) then dividend per share is 160/n. q says that if she had 12 more shares she would had got 15$ more.
so 160/n = (160+15)/(n+12). solving this we get n=128.
SVP
Joined: 30 Apr 2008
Posts: 1889
Location: Oklahoma City
Schools: Hard Knocks
Followers: 36

Kudos [?]: 480 [0], given: 32

Re: question explanation [#permalink]  23 Nov 2009, 09:39
12 more shares = $15 more is 15/12 to get the per share cost. That's 1.25, or 5/4 per share so $$\frac{5}{4}=\frac{160}{n}$$ = $$\frac{4*160}{5}$$ = 4*32 = 128. reduce where you can Adigmat wrote: Last year Mrs. Long received$160 in dividends on her shares of Company X stock, all of which she had held for the entire year. If she had had 12 more shares of the stock last year, she would have received $15 more in total annual dividends. How many shares of the stock did she have last year? (A) 128 (B) 140 (C) 172 (D) 175 (E) 200 _________________ ------------------------------------ J Allen Morris **I'm pretty sure I'm right, but then again, I'm just a guy with his head up his a$$. GMAT Club Premium Membership - big benefits and savings Senior Manager Joined: 21 Jul 2009 Posts: 366 Schools: LBS, INSEAD, IMD, ISB - Anything with just 1 yr program. Followers: 15 Kudos [?]: 117 [0], given: 22 Re: question explanation [#permalink] 23 Nov 2009, 11:11 kp1811 wrote: dividend is paid on the basis of the number of shares held for a certain duration. I knew I had to know this some time or the other!!!! _________________ I am AWESOME and it's gonna be LEGENDARY!!! Senior Manager Joined: 30 Aug 2009 Posts: 286 Location: India Concentration: General Management Followers: 3 Kudos [?]: 116 [0], given: 5 Re: question explanation [#permalink] 23 Nov 2009, 11:37 SensibleGuy wrote: kp1811 wrote: dividend is paid on the basis of the number of shares held for a certain duration. I knew I had to know this some time or the other!!!! better late than never !!!! GMAT Club Legend Joined: 09 Sep 2013 Posts: 5708 Followers: 323 Kudos [?]: 63 [0], given: 0 Re: Last year Mrs. Long received$160 in dividends on her shares [#permalink]  26 Apr 2015, 03:31
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