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15 Mar 2012, 03:47
1
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Difficulty:

35% (medium)

Question Stats:

81% (01:48) correct 19% (01:01) wrong based on 21 sessions

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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?
[Reveal] Spoiler: OA

_________________

Best Regards,
E.

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

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Re: If x equally priced shares of a certain stock are valued at $18,000 [#permalink] ### Show Tags 15 Mar 2012, 04:09 1 This post received KUDOS Expert's post 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.
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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   [#permalink] 29 Mar 2017, 05:44
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