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

 It is currently 20 Aug 2014, 05:00

### 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

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

# Events & Promotions

###### Events & Promotions in June
Open Detailed Calendar

# 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 [?]: 4 [0], given: 0 Last year Mrs. Long received$160 in dividends on her shares [#permalink]  20 Jul 2004, 13:58
00:00

Difficulty:

(N/A)

Question Stats:

33% (02:16) correct 67% (00:00) wrong based on 1 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: 466
Followers: 1

Kudos [?]: 24 [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: 100 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 CEO Joined: 29 Aug 2007 Posts: 2501 Followers: 53 Kudos [?]: 500 [0], given: 19 Re: Stocks [#permalink] 15 Nov 2007, 14:24 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 $15 more in total annual dividends. How many shares of the stock did she have last year? (A) 128 (B) 140 (C) 172 (D) 175 (E) 200 A. 128 160/n = 175/(n+12) x = 128 Senior Manager Joined: 30 Aug 2009 Posts: 291 Location: India Concentration: General Management Followers: 2 Kudos [?]: 89 [0], given: 5 Re: question explanation [#permalink] 23 Nov 2009, 06:46 Adigmat wrote: and why ? lets consider Mrs Long has "n" shares of Company X. dividend is paid on the basis of the number of shares held for a certain duration (here one year) then dividend per share is 160/n. q says that if she had 12 more shares she would had got 15$ more.
so 160/n = (160+15)/(n+12). solving this we get n=128.
SVP
Joined: 30 Apr 2008
Posts: 1893
Location: Oklahoma City
Schools: Hard Knocks
Followers: 29

Kudos [?]: 428 [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$$. Get the best GMAT Prep Resources with GMAT Club Premium Membership Senior Manager Joined: 21 Jul 2009 Posts: 367 Schools: LBS, INSEAD, IMD, ISB - Anything with just 1 yr program. Followers: 14 Kudos [?]: 97 [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: 291 Location: India Concentration: General Management Followers: 2 Kudos [?]: 89 [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 !!!! Re: question explanation [#permalink] 23 Nov 2009, 11:37 Similar topics Replies Last post Similar Topics: During the four years that Mrs. Lopez owned her car, she fou 2 16 Jul 2013, 17:15 3 Last year, medical schools in the United States received 10 11 Mar 2010, 02:19 Last year Mrs. Long received$160 in dividends on her shares 1 13 Apr 2008, 15:02
Last year Mrs. Long received $160 in dividends on her shares 0 15 Nov 2007, 14:24 Last year an employee received a gross annual salary of 1 09 Feb 2006, 06:19 Display posts from previous: Sort by # Last year Mrs. Long received$160 in dividends on her shares

 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®.