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07 Feb 2020, 07:51
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Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
65%
(hard)
Question Stats:
59% (02:34) correct
41%
(02:40)
wrong
based on 199
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Mrs. Stark paid $6,000 for 100 shares of stock A and $4,000 for 100 shares of stock B. She later sold the same shares of both stocks, gaining 3/8 the amount she paid for stock B. If the prices she had paid for the stocks had been reversed and everything else remained the same, then the net result would have been:
(A) The same.
(B) A loss 1 1/2 times as much.
(C) A loss 2 times as much.
(D) A loss 9 times as much.
(E) A gain \(1 \frac{1}{2}\) times as much.
Are You Up For the Challenge: 700 Level Questions
(A) The same.
(B) A loss 1 1/2 times as much.
(C) A loss 2 times as much.
(D) A loss 9 times as much.
(E) A gain \(1 \frac{1}{2}\) times as much.
Are You Up For the Challenge: 700 Level Questions
07 Feb 2020, 17:09
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Bunuel
Mrs. Stark paid $6,000 for 100 shares of stock A and $4,000 for 100 shares of stock B. She later sold the same shares of both stocks, gaining 3/8 the amount she paid for stock B. If the prices she had paid for the stocks had been reversed and everything else remained the same, then the net result would have been:
(A) The same.
(B) A loss 1 1/2 times as much.
(C) A loss 2 times as much.
(D) A loss 9 times as much.
(E) A gain \(1 \frac{1}{2}\) times as much.
Are You Up For the Challenge: 700 Level Questions
(A) The same.
(B) A loss 1 1/2 times as much.
(C) A loss 2 times as much.
(D) A loss 9 times as much.
(E) A gain \(1 \frac{1}{2}\) times as much.
Are You Up For the Challenge: 700 Level Questions
Given:
1. Mrs. Stark paid $6,000 for 100 shares of stock A and $4,000 for 100 shares of stock B.
2. She later sold the same shares of both stocks, gaining 3/8 the amount she paid for stock B.
Asked: If the prices she had paid for the stocks had been reversed and everything else remained the same, then the net result would have been:
Stock A:
Number of shares = 100
Total amount invested = $6000
Purchase price = $6000/100 = $600
Stock B:
Number of shares = 100
Total amount invested = $4000
Purchase price = $4000/100 = $400
Total gain by selling all shares = 3/8 * $4000 = $1500
If price for shares had been reversed
Stock A:
Number of shares = 100
Total amount invested = $4000
Purchase price = $4000/100 = $400
Stock B:
Number of shares = 100
Total amount invested = $6000
Purchase price = $6000/100 = $600
Total gain by selling all shares = 3/8*$6000 = $2250
Net gain = $2250/$1500 = 3/2 = 1.5
IMO E
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07 Feb 2020, 20:11
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Quick solution (time taken :40 secs)
net gain in the 1st transaction = 3/8 of 4000 = 1500 Rs.
now the prices are reversed. Since the number of shares is the same for Stock A and B, shares in Stock B were purchased at 6000 and stock A at 4000.
Net gain now = 3/8 * 6000 = 2250
the CP is same in both the cases. Since the profit increased, only one option depicts that IMO E
net gain in the 1st transaction = 3/8 of 4000 = 1500 Rs.
now the prices are reversed. Since the number of shares is the same for Stock A and B, shares in Stock B were purchased at 6000 and stock A at 4000.
Net gain now = 3/8 * 6000 = 2250
the CP is same in both the cases. Since the profit increased, only one option depicts that IMO E
