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29 Oct 2017, 01:20
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Difficulty:
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Question Stats:
91% (00:39) correct
9%
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based on 155
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A share of stock in Ace Enterprises cost D dollars on Jan. 1, 1999. One year later, a share increased to Q dollars. The fraction by which the cost of a share of stock has increased in the year is
A. (Q - D)/D
B. (D - Q)/Q
C. D/Q
D. Q/D
E. (Q - D)/Q
A. (Q - D)/D
B. (D - Q)/Q
C. D/Q
D. Q/D
E. (Q - D)/Q
29 Oct 2017, 12:22
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Bunuel
Use the first part of percent increase formula-IMO, faster
The fraction by which the price of the stock increased can be calculated with percent change / percent increase formula, except without the (* 100).
The (* 100) changes the very fraction we seek into a percent.
Percent increase:
\(\frac{(New-Old)}{Old} * 100\). Omit the * 100
Fractional increase where D is old price and Q is new price:
\(\frac{(New-Old)}{Old}=\frac{(Q - D)}{D}\)
Answer A
Choose values
Let D dollars = 10
Let Q dollars = 15
The absolute increase in cost is 15 - 10 = 5 dollars.
5 is what fraction of original cost, 10?
\(\frac{part}{whole}=\frac{5}{10}=\frac{1}{2}\)
With D = 10, Q = 15, find the answer that yields result of \(\frac{1}{2}\)
Eliminate C and D immediately (with these numbers). The relationship between 10 and 15, regardless of which is the numerator and which is the denominator, is not 1/2
A. (Q - D)/D
\(\frac{(15 - 10)}{10}=(\frac{5}{10})=\frac{1}{2}\) MATCH
B. (D - Q)/Q
\(\frac{(10 - 15)}{15}=\) STOP. This result is negative. Indicates decrease. Prompt says increase. REJECT
E. (Q - D)/Q
\(\frac{(15-10)}{15}=(\frac{5}{15})=\frac{1}{3}\). NO MATCH
Answer A
