Last year Mrs. Long received $160 in dividends on her shares : GMAT Problem Solving (PS) Check GMAT Club App Tracker for the Latest School Decision Releases http://gmatclub.com/AppTrack  It is currently 08 Dec 2016, 03:28 ### 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. ### Request Expert Reply # Events & Promotions ###### Events & Promotions in June Open Detailed Calendar # Last year Mrs. Long received$160 in dividends on her shares

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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.
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Re: Stocks [#permalink]

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15 Nov 2007, 14:21
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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
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Re: Stocks [#permalink]

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15 Nov 2007, 14:24
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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
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Re: question explanation [#permalink]

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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: 1887 Location: Oklahoma City Schools: Hard Knocks Followers: 40 Kudos [?]: 564 [0], given: 32 Re: question explanation [#permalink] ### Show Tags 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

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Re: question explanation [#permalink]

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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!!!!
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Re: question explanation [#permalink]

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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 !!!!
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