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John buys 100 shares of stock at $100 per share. The price goes up by

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John buys 100 shares of stock at $100 per share. The price goes up by  [#permalink]

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New post 03 Aug 2019, 23:01
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Difficulty:

  15% (low)

Question Stats:

83% (01:16) correct 17% (01:10) wrong based on 53 sessions

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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

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Re: John buys 100 shares of stock at $100 per share. The price goes up by  [#permalink]

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New post 12 Aug 2019, 00:59
SajjadAhmad wrote:
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


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
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Re: John buys 100 shares of stock at $100 per share. The price goes up by  [#permalink]

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New post 14 Aug 2019, 17:35
SajjadAhmad wrote:
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


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
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Re: John buys 100 shares of stock at $100 per share. The price goes up by   [#permalink] 14 Aug 2019, 17:35
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