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question explanation [#permalink] New post 23 Nov 2009, 05:39
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] New post 23 Nov 2009, 07:46
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.
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Re: question explanation [#permalink] New post 23 Nov 2009, 10:39
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] New post 23 Nov 2009, 12:11
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] New post 23 Nov 2009, 12:37
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 !!!! :lol:
Re: question explanation   [#permalink] 23 Nov 2009, 12:37
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