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# M17-02

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Math Expert
Joined: 02 Sep 2009
Posts: 50613

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16 Sep 2014, 00:00
00:00

Difficulty:

5% (low)

Question Stats:

94% (00:58) correct 6% (01:59) wrong based on 68 sessions

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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

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Math Expert
Joined: 02 Sep 2009
Posts: 50613

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16 Sep 2014, 00:00
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 $$N = 40$$.

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Manager
Joined: 24 Nov 2013
Posts: 59

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11 Aug 2015, 02:06
2
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
Manager
Joined: 21 Mar 2017
Posts: 141
Location: India
GMAT 1: 560 Q48 V20
WE: Other (Computer Software)

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26 Oct 2017, 01:45
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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Math Expert
Joined: 02 Sep 2009
Posts: 50613

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

Moderators: chetan2u, Bunuel

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