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03 Aug 2019, 23:01
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E
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John buys 100 shares of stock at $100 per share. The price goes up by 10% and he sells 50 shares. Then, prices drop by 10% and he sells his remaining 50 shares. How much did he get for the last 50?
A. $5000
B. $5500
C. $4900
D. $5050
E. $4950
TPR
A. $5000
B. $5500
C. $4900
D. $5050
E. $4950
TPR
12 Aug 2019, 00:59
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SajjadAhmad
John buys 100 shares of stock at $100 per share. The price goes up by 10% and he sells 50 shares. Then, prices drop by 10% and he sells his remaining 50 shares. How much did he get for the last 50?
A. $5000
B. $5500
C. $4900
D. $5050
E. $4950
TPR
A. $5000
B. $5500
C. $4900
D. $5050
E. $4950
TPR
Given: John buys 100 shares of stock at $100 per share. The price goes up by 10% and he sells 50 shares. Then, prices drop by 10% and he sells his remaining 50 shares.
Asked: How much did he get for the last 50?
John buys 100 shares of stock at $100 per share. The price goes up by 10% and he sells 50 shares.
Price become = $100 * 1.1 = $110
Then, prices drop by 10% and he sells his remaining 50 shares.
Price becomes = .9*$110 = $99
Selling price of 50 shares = 50 *$99 = $4950
IMO E
14 Aug 2019, 17:35
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SajjadAhmad
John buys 100 shares of stock at $100 per share. The price goes up by 10% and he sells 50 shares. Then, prices drop by 10% and he sells his remaining 50 shares. How much did he get for the last 50?
A. $5000
B. $5500
C. $4900
D. $5050
E. $4950
TPR
A. $5000
B. $5500
C. $4900
D. $5050
E. $4950
TPR
John received the following amount for the last 50 shares:
100 x 11/10 x 9/10 x 50 = 10 x 11 x 9 x 5 = 450 x 11 = 4,950
Alternate Solution:
After the 10% increase, the shares are worth 100 x 1.10 = $110 each. After he sells the first 50 shares, the remaining 50 shares decrease by 10%, so they are worth 110 x 0.90 = $99 each. He sells all 50 of them, so he sells them for 50 x 99 = $4950.
Answer: E
