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# Value per share of the stock

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Director
Status: Finally Done. Admitted in Kellogg for 2015 intake
Joined: 25 Jun 2011
Posts: 538
Location: United Kingdom
GMAT 1: 730 Q49 V45
GPA: 2.9
WE: Information Technology (Consulting)
Followers: 58

Kudos [?]: 2133 [0], given: 217

Value per share of the stock [#permalink]

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15 Mar 2012, 03:47
1
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Difficulty:

35% (medium)

Question Stats:

92% (01:55) correct 8% (01:59) wrong based on 13 sessions

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If x equally priced shares of a certain stock are valued at $18,000, what is the value per share of the stock? (1) If the value of each share of stock were$2 less, the total value of the x shares would be 5 percent less.
(2) If the value of each share of stock were $1 more, the total value of the x shares would be$450 more.

I have got the correct answer, but I want to double check whether my understanding is correct.

So from the question stem we have to find out the value of 18000/x ---> Is this correct?

From statement 1

x - 2 = 18000 - 0.05 (18000) ---> We can calculate x and therefore this statement is sufficient.

From statement 2

x + 1 = 18450 --> We can calculate x and therefore this statement is sufficient too.

Therefore, answer is D. Is it correct?
[Reveal] Spoiler: OA

_________________

Best Regards,
E.

MGMAT 1 --> 530
MGMAT 2--> 640
MGMAT 3 ---> 610
GMAT ==> 730

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Joined: 02 Sep 2009
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Kudos [?]: 70418 [1] , given: 9844

Re: Value per share of the stock [#permalink]

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15 Mar 2012, 04:09
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Expert's post
Unfortunately your solution is not correct. You should have spotted that since you got two different values for x from (1) and (2). On the GMAT, two data sufficiency statements always provide TRUE information and these statements never contradict each other or the stem.

If x equally priced shares of a certain stock are valued at $18,000, what is the value per share of the stock? (1) If the value of each share of stock were$2 less, the total value of the x shares would be 5 percent less --> since the shares are equally priced then we can say that $2 reduction in price per share equals to 5% reduction --> P*5%=$2 --> P=$40. Sufficient. (2) If the value of each share of stock were$1 more, the total value of the x shares would be $450 more --> surplus of$1 for x shares generates $450 --> x*$1=$450 --> x=450 --> P=$18,000/450=\$40. Sufficient.

Hope it's clear.
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Re: Value per share of the stock   [#permalink] 15 Mar 2012, 04:09
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