It is currently 21 Feb 2018, 17:07

### 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

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

# Events & Promotions

###### Events & Promotions in June
Open Detailed Calendar

# If the total price of n equally priced shares of a certain s

Author Message
TAGS:

### Hide Tags

Math Expert
Joined: 02 Sep 2009
Posts: 43853
If the total price of n equally priced shares of a certain s [#permalink]

### Show Tags

21 Jan 2014, 03:15
Expert's post
5
This post was
BOOKMARKED
00:00

Difficulty:

5% (low)

Question Stats:

83% (01:29) correct 17% (01:09) wrong based on 392 sessions

### HideShow timer Statistics

The Official Guide For GMAT® Quantitative Review, 2ND Edition

If the total price of n equally priced shares of a certain stock was $12,000, what was the price per share of the stock? (1) If the price per share of the stock had been$1 more, the total price of the n shares would have been $300 more. (2) If the price per share of the stock had been$2 less, the total price of the n shares would have been 5 percent less.

Data Sufficiency
Question: 50
Category: Arithmetic Arithmetic ope rations; Percents
Page: 156
Difficulty: 600

GMAT Club is introducing a new project: The Official Guide For GMAT® Quantitative Review, 2ND Edition - Quantitative Questions Project

Each week we'll be posting several questions from The Official Guide For GMAT® Quantitative Review, 2ND Edition and then after couple of days we'll provide Official Answer (OA) to them along with a slution.

We'll be glad if you participate in development of this project:
2. Please vote for the best solutions by pressing Kudos button;
3. Please vote for the questions themselves by pressing Kudos button;
4. Please share your views on difficulty level of the questions, so that we have most precise evaluation.

Thank you!
[Reveal] Spoiler: OA

_________________
Math Expert
Joined: 02 Sep 2009
Posts: 43853
Re: If the total price of n equally priced shares of a certain s [#permalink]

### Show Tags

21 Jan 2014, 03:15
Expert's post
3
This post was
BOOKMARKED
SOLUTION

If the total price of n equally priced shares of a certain stock was $12,000, what was the price per share of the stock? (Price per share) = (Total price)/(The number of shares) =$12,000/n. So, basically we need to find the value of n.

(1) If the price per share of the stock had been $1 more, the total price of the n shares would have been$300 more. $1 increase per share results in$300 increase of the total price, thus there must be 300 shares. Sufficient..

(2) If the price per share of the stock had been $2 less, the total price of the n shares would have been 5 percent less.$2 decrease per share results in 0.05*12,000=$600 decrease of the total price, thus there must be 600/2=300 shares. Sufficient. Answer: D. Similar question to practice: if-x-equally-priced-shares-of-a-certain-stock-were-valued-129106.html _________________ Intern Joined: 13 Feb 2013 Posts: 19 Location: United States Concentration: Finance, General Management Schools: HBS '16 GMAT Date: 07-28-2014 GPA: 3.75 WE: Consulting (Computer Software) Re: If the total price of n equally priced shares of a certain s [#permalink] ### Show Tags 21 Jan 2014, 07:21 3 This post received KUDOS 1 This post was BOOKMARKED Let no. of share=n and price per share=x GIven total price of n share -----> nx = 12000 Condition 1: (x+1)n=12000+300 nx+n=12000+300 n=300 Condition 2: (x-2)n=12000*0.95 nx-2n=11400 2n=600 n=300 Since BOTH condition can individually answer the question so answer is (D) Last edited by beatthegmat05 on 21 Jan 2014, 20:21, edited 1 time in total. Current Student Joined: 05 Dec 2013 Posts: 32 Concentration: Technology GMAT Date: 02-01-2014 GPA: 3.95 WE: Information Technology (Venture Capital) Re: If the total price of n equally priced shares of a certain s [#permalink] ### Show Tags 21 Jan 2014, 19:46 2 This post received KUDOS Here's how I solved it: n = Number of shares x = Price Per share 12000/n=x or 12000/x=n a) 12000+300/n=x+1 --> 12300/n=x+1 --> 12300/x+1=n Set equation equal to the one above since number of shares is constant 12300/x+1=12000/x 12300x=12000x+12000 Don't need to go any further since you know you can solve for x. b) 12000*.95/n=x-2 --> 11400/n=x-2 --> 11400/x-2=n Set equation equal to the one above since number of shares is constant 11400/x-2=12000/x 11400x=12000x-24000 Don't need to go any further since you know you can solve for x. Just in case you solved for x, x=40 Each equation is sufficient. Answer is D. Manager Status: GMATting Joined: 21 Mar 2011 Posts: 108 Concentration: Strategy, Technology GMAT 1: 590 Q45 V27 Re: If the total price of n equally priced shares of a certain s [#permalink] ### Show Tags 22 Jan 2014, 01:00 1 This post received KUDOS Since the total price of shares is given by no. of shares(n)*Price/share(p), we can make the following statement: np=12,000; The idea would be to equate given information with the information obtained from statements. Statement(1): n(p+1) = np(Total value) + 300; np + n = np + 300; => n = 300; From this, Price per share(p) can be determined; Sufficient; Statement(2): n(p-2) = np - (0.05)(12,000); np - 2n = np - 600; 2n = 600; => n = 300; From this, Price per share(p) can be determined; Sufficient; Ans is (D). Note: It is not even required to find n; If we understand that p can be determined from the statements alone, it is sufficient; Senior Manager Joined: 27 May 2012 Posts: 447 Re: If the total price of n equally priced shares of a certain s [#permalink] ### Show Tags 23 Jan 2014, 23:54 1 This post received KUDOS Since there are n shares which cost 12,000, therefore 1 share originally costs $$\frac{12,000}{n}$$ so we need n ( total shares) to get the value per share (1) If the price per share of the stock had been$1 more, the total price of the n shares would have been $300 more. $$(\frac{12,000}{n}+1)*n$$= 12,300 we can get n , sufficient (2) If the price per share of the stock had been$2 less, the total price of the n shares would have been 5 percent less.

$$(\frac{12,000}{n}-2)*n$$= 11685, we can get n , sufficient

( n= 300 therefore price per share is 40 )
_________________

- Stne

Manager
Joined: 03 Dec 2013
Posts: 63
Re: Help : Data Sufficiency - OG13 Question 50 [#permalink]

### Show Tags

23 Mar 2014, 22:37
1
KUDOS
I think you are referring to OG Q review - 2nd Edition.

let share price = f

total share price = f*n

i) Consider st1: we can derive following equation:
(f+1)*n - fn = 300
n = 300
thus f = 12000/300 = 40
Sufficient

ii) Consider st2: we can derive following equation
(f-2)*n = 0.95 * f * n ... (5 % less mean new share equals 95% of old)
thus f = 2/0.05 = 40.
Sufficient.

Hope this helps!
Non-Human User
Joined: 09 Sep 2013
Posts: 13815
Re: If the total price of n equally priced shares of a certain s [#permalink]

### Show Tags

14 Jan 2018, 12:26
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
_________________
Re: If the total price of n equally priced shares of a certain s   [#permalink] 14 Jan 2018, 12:26
Display posts from previous: Sort by