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21 Jan 2014, 03:15
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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

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Re: If the total price of n equally priced shares of a certain stock was $[#permalink] ### Show Tags 21 Jan 2014, 03:15 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
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21 Jan 2014, 19:46
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
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23 Jan 2014, 23:54
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]

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23 Mar 2014, 22:37
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!
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Re: If the total price of n equally priced shares of a certain stock was $[#permalink] ### Show Tags 23 Apr 2018, 10:55 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 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]

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08 Jan 2019, 19:04
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?
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Re: If the total price of n equally priced shares of a certain stock was $[#permalink] ### Show Tags 29 Jan 2020, 03:40 Hello from the GMAT Club BumpBot! Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos). Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email. _________________ Re: If the total price of n equally priced shares of a certain stock was$   [#permalink] 29 Jan 2020, 03:40
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