GMAT Question of the Day: Daily via email | Daily via Instagram New to GMAT Club? Watch this Video

 It is currently 17 Feb 2020, 04:21 ### 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

#### Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.  ### Show Tags 00:00

Difficulty:   5% (low)

Question Stats: 85% (01:32) correct 15% (01:43) wrong based on 681 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

_________________
Math Expert V
Joined: 02 Sep 2009
Posts: 61221
Re: If the total price of n equally priced shares of a certain stock was $[#permalink] ### Show Tags 5 3 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.

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)

### Show Tags

3
Consider the price per share as 'x'.
Given that, x*n = 12000

(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.
SUFFICIENT: this says $$(x+1)*n=12000+300$$. As we know $$xn=12000$$, we can solve this equation to find out x & n. (no need to solve further)

(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. SUFFICIENT: this says $$(x-2)*n=12000 (1-\frac{5}{100})$$. As we know $$xn=12000$$, we can solve this equation to find out x & n. (no need to solve further) Hence choice(D) is the answer. _________________ Thanks, Prashant Ponde Tough 700+ Level RCs: Passage1 | Passage2 | Passage3 | Passage4 | Passage5 | Passage6 | Passage7 Reading Comprehension notes: Click here VOTE GMAT Practice Tests: Vote Here PowerScore CR Bible - Official Guide 13 Questions Set Mapped: Click here Finance your Student loan through SoFi and get$100 referral bonus : Click here
Manager  Status: GMATting
Joined: 21 Mar 2011
Posts: 105
Concentration: Strategy, Technology
GMAT 1: 590 Q45 V27

### Show Tags

1
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 Answer D ( n= 300 therefore price per share is 40 ) _________________ - Stne Manager  Joined: 03 Dec 2013 Posts: 50 Re: If the total price of n equally priced shares of a certain stock was$  [#permalink]

### Show Tags

1
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!
VP  D
Joined: 09 Mar 2016
Posts: 1222
Re: If the total price of n equally priced shares of a certain stock was $[#permalink] ### Show Tags Bunuel wrote: 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: 1. Please provide your solutions to the questions; 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! let $$n$$ be total number of shares let $$x$$ be price per share x*n = 12000 first statement $$(x+1)n = 12300$$ $$x = \frac{12000}{n}$$ price per share original ($$\frac{12000}{n}$$ +1)n = $$12300$$ $$12000+n = 12300$$ $$n = 300$$ second statement $$(x-2)n =12000 -0.5xn$$ $$\frac{12000}{n} =x$$ price per share (plu in in the first one) $$(\frac{12000}{n} -2)n = 11,400$$ $$12000- 2n = 11400$$ $$600 = 2n$$ $$n = 300$$ DDDDDDD Manager  B Joined: 01 Nov 2018 Posts: 79 GMAT 1: 690 Q48 V35 GPA: 3.88 Re: If the total price of n equally priced shares of a certain stock was$  [#permalink]

### Show Tags

Hello, please let me know if my logic works for this problem. At first, I had no idea how to set up the probably algebraicly but realized each statement allows you to solve for one variable to determine the answer and hence D. This is what I originally thought:

12,000(Total Value)/X(Price per share)=12,300/X+1
Essentially, this is the change to the original equation which allows you to solve for the share price ($40) Similarly, 12,000/x=11400/x-2 for statement 2 which again gets you$40 share price (11400>>> 95% of 12,000)
In the future, despite not knowing how to PROPERLY set up algebraic expressions and equations on certain DS questions, as long as I can see that I can solve for a particular variable, I can feel confident the statement will be sufficient?
Non-Human User Joined: 09 Sep 2013
Posts: 14070
Re: If the total price of n equally priced shares of a certain stock was $[#permalink] ### Show Tags Hello from the GMAT Club BumpBot! Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos). Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email. _________________ Re: If the total price of n equally priced shares of a certain stock was$   [#permalink] 29 Jan 2020, 03:40
Display posts from previous: Sort by

# If the total price of n equally priced shares of a certain stock was \$  