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If the total price of n equally priced bonds was \$15,000, what was the

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Math Expert
Joined: 02 Sep 2009
Posts: 46284
If the total price of n equally priced bonds was \$15,000, what was the [#permalink]

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17 Sep 2017, 03:08
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45% (medium)

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71% (00:56) correct 29% (00:32) wrong based on 24 sessions

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If the total price of n equally priced bonds was \$15,000, what was the price of one bond?

(1) If the price of each bond had been \$2 more, the total price of the n bonds would have been \$40,000.
(2) If the price of each bond was doubled, the total price of n bonds would be \$30,000.

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Joined: 21 Nov 2016
Posts: 45
Re: If the total price of n equally priced bonds was \$15,000, what was the [#permalink]

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18 Sep 2017, 01:56
Bunuel wrote:
If the total price of n equally priced bonds was \$15,000, what was the price of one bond?

(1) If the price of each bond had been \$2 more, the total price of the n bonds would have been \$40,000.
(2) If the price of each bond was doubled, the total price of n bonds would be \$30,000.

From Stem, there are 'n' number of bonds, say, each priced at \$x. Total price is \$15000
So, this can be written as n*x = 15000
From Stmt (1) --> if price of each bond is \$2 more, then total price would be \$40000
so, it would be n(x+2) = 40000 = 25000 - 15000
n(x+2) = 25000 - nx ---> nx = 15000 from stem
nx + 2n = 25000 - nx
2n = 25000
n = 12500
So, there were 12500 bonds and the total price of 12500 bonds was 15000, so price of each bond would be 12500/15000.

So, stmt (1) is sufficient.

From Stmt(2), if the price of each bond was doubled, the total price would be \$30000
n(2x) = 30000 ---> nx = 15000. Same info as stem. Redundant info. Stmt(2) is not sufficient.

So (A) would be my pick.
Re: If the total price of n equally priced bonds was \$15,000, what was the   [#permalink] 18 Sep 2017, 01:56
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