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M17-02

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M17-02 [#permalink]

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New post 16 Sep 2014, 01:00
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An investor bought \(N\) shares of company \(X\) at $15 per share and \(N\) shares of company \(Y\) at $20 per share. If a month later the investor sold all the shares at $20 per share and made a profit of $200, then what is the value \(N\)?

A. 35
B. 40
C. 50
D. 60
E. 75
[Reveal] Spoiler: OA

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Re M17-02 [#permalink]

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New post 16 Sep 2014, 01:00
Official Solution:

An investor bought \(N\) shares of company \(X\) at $15 per share and \(N\) shares of company \(Y\) at $20 per share. If a month later the investor sold all the shares at $20 per share and made a profit of $200, then what is the value \(N\)?

A. 35
B. 40
C. 50
D. 60
E. 75

The investor made a profit of \((2*N*20) - (15N + 20N) = 200\). This equation simplifies to \(5N = 200\) from where \(N = 40\).

Answer: B
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Re: M17-02 [#permalink]

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New post 11 Aug 2015, 03:06
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Another way to solve it, without calc..
Company Y shares were bought for $20 and sold for $20. So no profit from these.

The profit must be from Company X shares bought at $15 and sold at $20.
We have a profit of $5 per share here....

total profit is $200. Hence the investor has 40 shares of company X. So N = 40

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Re: M17-02 [#permalink]

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New post 26 Oct 2017, 02:45
Bunuel

I tried doing this as (15*N + 20*N)/ N+N and this sums to 17.5N = 200.

Where am I doing wrong?
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Re: M17-02 [#permalink]

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New post 26 Oct 2017, 03:03
Prashant10692 wrote:
Bunuel

I tried doing this as (15*N + 20*N)/ N+N and this sums to 17.5N = 200.

Where am I doing wrong?


What exactly are you doing there?

We are given that (sales) - (investment) = $200.

(sales) = 20N + 20N = (2*N*20)
(investment) = 15N + 20N.
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Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


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Kudos [?]: 135295 [0], given: 12686

Re: M17-02   [#permalink] 26 Oct 2017, 03:03
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