GMAT Question of the Day - Daily to your Mailbox; hard ones only

 It is currently 17 Oct 2018, 09:13

# Q&A in Progress!

### 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

# If x equally priced shares of a certain stock are valued at \$18,000

Author Message
TAGS:

### Hide Tags

Senior Manager
Status: Finally Done. Admitted in Kellogg for 2015 intake
Joined: 25 Jun 2011
Posts: 478
Location: United Kingdom
GMAT 1: 730 Q49 V45
GPA: 2.9
WE: Information Technology (Consulting)
If x equally priced shares of a certain stock are valued at \$18,000  [#permalink]

### Show Tags

15 Mar 2012, 03:47
1
00:00

Difficulty:

35% (medium)

Question Stats:

77% (01:29) correct 23% (02:24) wrong based on 27 sessions

### HideShow timer Statistics

If x equally priced shares of a certain stock are valued at \$18,000, what is the value per share of the stock?

(1) If the value of each share of stock were \$2 less, the total value of the x shares would be 5 percent less.
(2) If the value of each share of stock were \$1 more, the total value of the x shares would be \$450 more.

I have got the correct answer, but I want to double check whether my understanding is correct.

So from the question stem we have to find out the value of 18000/x ---> Is this correct?

From statement 1

x - 2 = 18000 - 0.05 (18000) ---> We can calculate x and therefore this statement is sufficient.

From statement 2

x + 1 = 18450 --> We can calculate x and therefore this statement is sufficient too.

Therefore, answer is D. Is it correct?

_________________

Best Regards,
E.

MGMAT 1 --> 530
MGMAT 2--> 640
MGMAT 3 ---> 610
GMAT ==> 730

Math Expert
Joined: 02 Sep 2009
Posts: 49968
Re: If x equally priced shares of a certain stock are valued at \$18,000  [#permalink]

### Show Tags

15 Mar 2012, 04:09
1
Unfortunately your solution is not correct. You should have spotted that since you got two different values for x from (1) and (2). On the GMAT, two data sufficiency statements always provide TRUE information and these statements never contradict each other or the stem.

If x equally priced shares of a certain stock are valued at \$18,000, what is the value per share of the stock?

(1) If the value of each share of stock were \$2 less, the total value of the x shares would be 5 percent less --> since the shares are equally priced then we can say that \$2 reduction in price per share equals to 5% reduction --> P*5%=\$2 --> P=\$40. Sufficient.

(2) If the value of each share of stock were \$1 more, the total value of the x shares would be \$450 more --> surplus of \$1 for x shares generates \$450 --> x*\$1=\$450 --> x=450 --> P=\$18,000/450=\$40. Sufficient.

Hope it's clear.
_________________
Non-Human User
Joined: 09 Sep 2013
Posts: 8433
Re: If x equally priced shares of a certain stock are valued at \$18,000  [#permalink]

### Show Tags

29 Mar 2017, 05:44
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 x equally priced shares of a certain stock are valued at \$18,000 &nbs [#permalink] 29 Mar 2017, 05:44
Display posts from previous: Sort by