It is currently 21 Feb 2018, 09:24

Close

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.

Close

Request Expert Reply

Confirm Cancel

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

At the start of trading on a particular day the price of stock x is $7

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Expert Post
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 43851
At the start of trading on a particular day the price of stock x is $7 [#permalink]

Show Tags

New post 10 May 2017, 01:27
00:00
A
B
C
D
E

Difficulty:

  25% (medium)

Question Stats:

91% (00:28) correct 9% (00:00) wrong based on 43 sessions

HideShow timer Statistics

At the start of trading on a particular day the price of stock x is $7. If during the day the price falls to $6 by what percent does the price of the stock decrease?

A. 8%
B. 12.5%
C. 14.3%
D. 16.67%
E. 20%
[Reveal] Spoiler: OA

_________________

New to the Math Forum?
Please read this: Ultimate GMAT Quantitative Megathread | All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
Extra-hard Quant Tests with Brilliant Analytics

Expert Post
Top Contributor
1 KUDOS received
SVP
SVP
User avatar
P
Joined: 11 Sep 2015
Posts: 2055
Location: Canada
Re: At the start of trading on a particular day the price of stock x is $7 [#permalink]

Show Tags

New post 10 May 2017, 05:07
1
This post received
KUDOS
Expert's post
Top Contributor
Bunuel wrote:
At the start of trading on a particular day the price of stock x is $7. If during the day the price falls to $6 by what percent does the price of the stock decrease?

A. 8%
B. 12.5%
C. 14.3%
D. 16.67%
E. 20%


Percent increase/decrease = 100(change in value)/original value
= 100(7 - 6)/7%
= 100(1)/7%
= 100/7%
≈ 14.3%

Answer:
[Reveal] Spoiler:
C


RELATED VIDEO

_________________

Brent Hanneson – Founder of gmatprepnow.com

Image

Director
Director
avatar
S
Joined: 21 Mar 2016
Posts: 551
Reviews Badge
Re: At the start of trading on a particular day the price of stock x is $7 [#permalink]

Show Tags

New post 10 May 2017, 08:56
% decrease = (change/original) *100

(7-6)/7 = 14.28%

ans C
Manager
Manager
User avatar
S
Joined: 14 Sep 2016
Posts: 59
Concentration: Finance, Economics
Re: At the start of trading on a particular day the price of stock x is $7 [#permalink]

Show Tags

New post 11 May 2017, 05:24
Bunuel wrote:
At the start of trading on a particular day the price of stock x is $7. If during the day the price falls to $6 by what percent does the price of the stock decrease?

A. 8%
B. 12.5%
C. 14.3%
D. 16.67%
E. 20%


The stock fell by \(\frac{1}{7}\)

We need a 7th of 100%, 100/7 = 14.285
1 KUDOS received
Director
Director
User avatar
P
Joined: 13 Mar 2017
Posts: 562
Location: India
Concentration: General Management, Entrepreneurship
GPA: 3.8
WE: Engineering (Energy and Utilities)
Re: At the start of trading on a particular day the price of stock x is $7 [#permalink]

Show Tags

New post 11 May 2017, 05:30
1
This post received
KUDOS
Bunuel wrote:
At the start of trading on a particular day the price of stock x is $7. If during the day the price falls to $6 by what percent does the price of the stock decrease?

A. 8%
B. 12.5%
C. 14.3%
D. 16.67%
E. 20%


The price of the stock is $7,
Price falls to $6
So loss = &1

Percentage by which price of the stock decreased = $1/$7 x 100 = 14.3%
[Reveal] Spoiler:
Answer C

_________________

CAT 99th percentiler : VA 97.27 | DI-LR 96.84 | QA 98.04 | OA 98.95

MBA Social Network : WebMaggu

Appreciate by Clicking +1 Kudos ( Lets be more generous friends.)

1 KUDOS received
Intern
Intern
avatar
B
Joined: 14 Apr 2015
Posts: 14
Re: At the start of trading on a particular day the price of stock x is $7 [#permalink]

Show Tags

New post 11 May 2017, 07:59
1
This post received
KUDOS
7th of 100%= 100/7 = 14.285
Expert Post
1 KUDOS received
Target Test Prep Representative
User avatar
S
Status: Head GMAT Instructor
Affiliations: Target Test Prep
Joined: 04 Mar 2011
Posts: 1975
Re: At the start of trading on a particular day the price of stock x is $7 [#permalink]

Show Tags

New post 12 May 2017, 12:36
1
This post received
KUDOS
Expert's post
Bunuel wrote:
At the start of trading on a particular day the price of stock x is $7. If during the day the price falls to $6 by what percent does the price of the stock decrease?

A. 8%
B. 12.5%
C. 14.3%
D. 16.67%
E. 20%


We can create the following equation in which n = the percent decrease:

7(1 - n/100) = 6

7(100 - n)/100 = 6

700 - 7n = 600

7n = 100

n = 100/7 = 14.3%

Answer: C
_________________

Jeffery Miller
Head of GMAT Instruction

GMAT Quant Self-Study Course
500+ lessons 3000+ practice problems 800+ HD solutions

1 KUDOS received
Senior Manager
Senior Manager
User avatar
G
Joined: 07 Jul 2012
Posts: 294
Location: India
Concentration: Finance
Re: At the start of trading on a particular day the price of stock x is $7 [#permalink]

Show Tags

New post 13 May 2017, 01:09
1
This post received
KUDOS
Percent decrease in the price of stock is given by following formula:
= \(\frac{Change}{Initial Price}\)*100

Initial Price= $7
Final Price= $6
Change= $7-$6= $1
= \(\frac{1}{7}\)*100= 14.3%

Answer: C.

Kudos please if you like my explanation!
_________________

Kindly hit kudos if my post helps!

Expert Post
1 KUDOS received
Target Test Prep Representative
User avatar
S
Status: Head GMAT Instructor
Affiliations: Target Test Prep
Joined: 04 Mar 2011
Posts: 1975
Re: At the start of trading on a particular day the price of stock x is $7 [#permalink]

Show Tags

New post 15 May 2017, 16:22
1
This post received
KUDOS
Expert's post
Bunuel wrote:
At the start of trading on a particular day the price of stock x is $7. If during the day the price falls to $6 by what percent does the price of the stock decrease?

A. 8%
B. 12.5%
C. 14.3%
D. 16.67%
E. 20%


We can create the following equation in which n = the percentage decrease:

7(1 - n/100) = 6

7(100 - n)/100 = 6

700 - 7n = 600

7n = 100

n = 100/7 ≈ 14.3

Alternate Solution:

Let’s use the percent change formula, which states: % change = [(Original Value – Final Value) / Original Value] x 100%. For this problem, the original value is 7 and the final value is 6.

% change = [(6 – 7) / 7] x 100%

% change = -1/7 x 100%

% change = -0.143 x 100%

% change = -14.3%

The negative value indicates a percentage decrease, so we have an approximate 14.3% decrease in the price of the stock.

Answer: C
_________________

Jeffery Miller
Head of GMAT Instruction

GMAT Quant Self-Study Course
500+ lessons 3000+ practice problems 800+ HD solutions

Re: At the start of trading on a particular day the price of stock x is $7   [#permalink] 15 May 2017, 16:22
Display posts from previous: Sort by

At the start of trading on a particular day the price of stock x is $7

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

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®.