GMAT Question of the Day - Daily to your Mailbox; hard ones only

It is currently 23 Sep 2018, 09:15

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel

Of the shares of stock owned by a certain investor, 30

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Intern
Intern
User avatar
Joined: 22 Nov 2013
Posts: 39
Of the shares of stock owned by a certain investor, 30  [#permalink]

Show Tags

New post 25 Jan 2014, 02:16
3
22
00:00
A
B
C
D
E

Difficulty:

  15% (low)

Question Stats:

78% (00:48) correct 22% (00:49) wrong based on 587 sessions

HideShow timer Statistics

Of the shares of stock owned by a certain investor, 30 percent are shares of Company X stock and 1/7 of the remaining shares are shares of Company Y stock. How many shares of Company X stock does the investor own?

(1) The investor owns 100 shares of Company Y stock.
(2) The investor owns 200 more shares of Company X stock than of Company Y stock.
Most Helpful Expert Reply
EMPOWERgmat Instructor
User avatar
V
Status: GMAT Assassin/Co-Founder
Affiliations: EMPOWERgmat
Joined: 19 Dec 2014
Posts: 12432
Location: United States (CA)
GMAT 1: 800 Q51 V49
GRE 1: Q170 V170
Re: Of the shares of stock owned by a certain investor, 30  [#permalink]

Show Tags

New post 17 Apr 2015, 10:48
4
5
Hi All,

The speed and ease with which you handle this DS question will likely be based on how you organize your information. You can 'set up' this question using percents, fractions or decimals (depending on whatever 'format' you think is easiest to deal with).

We're told that an investor owns a variety of shares of stock:
1) 30 percent are shares of Company X stock
2) 1/7 of the REMAINING shares are shares of Company Y stock.

This means that we can organize the shares into 3 categories:
1) Shares of Company X (30% of the investor's shares)
2) Shares of Company Y (1/7 of 70% = 10% of the investor's shares)
3) Shares of Other Companies (the remaining 60% of the investor's shares)

We're asked for the number of shares of Company X stock that the investor owns.

Fact 1: The investor owns 100 shares of Company Y stock.

Since these 100 shares represent 10% of the investor's shares, then the TOTAL shares = 100(10) = 1,000. Since 30% of the TOTAL shares = Company X shares, we know that (30%)(1000) = 300 is the number of shares.
Fact 1 is SUFFICIENT

Fact 2: The investor owns 200 more shares of Company X stock than of Company Y stock.

This Fact helps us to create the following equation:

(30%)(Total shares) = (10%)(Total shares) + 200
(20%)(Total shares) = 200
Total shares = 1,000

Again, we can calculate the total shares of Company X stock = (30%)(1,000) = 300
Fact 2 is SUFFICIENT

Final Answer:

GMAT assassins aren't born, they're made,
Rich
_________________

760+: Learn What GMAT Assassins Do to Score at the Highest Levels
Contact Rich at: Rich.C@empowergmat.com

Rich Cohen

Co-Founder & GMAT Assassin

Special Offer: Save $75 + GMAT Club Tests Free
  Official GMAT Exam Packs + 70 Pt. Improvement Guarantee
www.empowergmat.com/

***********************Select EMPOWERgmat Courses now include ALL 6 Official GMAC CATs!***********************

Most Helpful Community Reply
Intern
Intern
User avatar
Joined: 22 Nov 2013
Posts: 39
Re: Of the shares of stock owned by a certain investor, 30  [#permalink]

Show Tags

New post 25 Jan 2014, 02:17
8
2
Let N be the number of total shares the investor owns.
0.3 N = number of Company X stock he owns
1/7 of 0.7 N (the remaining shares) = 0.1 N = number of Company Y stock he owns

Goal is to calculate N. X is 30% of N (which is what we are asked to calculate).

Statement 1:
100 Y shares and we know Y shares are 10% of the total N.
0.1 N = 100. N is therefore 1,000. SUFFICIENT.

Statement 2:
He owns 30% N shares and 10% Y shares. And that differential is 200.
0.3 N - 0.1 N = 200. N is therefore 1,000. SUFFICIENT.
General Discussion
Director
Director
User avatar
G
Status: Professional GMAT Tutor
Affiliations: AB, cum laude, Harvard University (Class of '02)
Joined: 10 Jul 2015
Posts: 669
Location: United States (CA)
Age: 38
GMAT 1: 770 Q47 V48
GMAT 2: 730 Q44 V47
GMAT 3: 750 Q50 V42
GRE 1: Q168 V169
WE: Education (Education)
Re: Of the shares of stock owned by a certain investor, 30  [#permalink]

Show Tags

New post 31 Mar 2016, 00:45
Attached is a visual that should help.
Attachments

Screen Shot 2016-03-31 at 12.44.46 AM.png
Screen Shot 2016-03-31 at 12.44.46 AM.png [ 144.51 KiB | Viewed 12043 times ]


_________________

Harvard grad and 99% GMAT scorer, offering expert, private GMAT tutoring and coaching, both in-person (San Diego, CA, USA) and online worldwide, since 2002.

One of the only known humans to have taken the GMAT 5 times and scored in the 700s every time (700, 710, 730, 750, 770), including verified section scores of Q50 / V47, as well as personal bests of 8/8 IR (2 times), 6/6 AWA (4 times), 50/51Q and 48/51V (1 question wrong).

You can download my official test-taker score report (all scores within the last 5 years) directly from the Pearson Vue website: https://tinyurl.com/y94hlarr Date of Birth: 09 December 1979.

GMAT Action Plan and Free E-Book - McElroy Tutoring

Contact: mcelroy@post.harvard.edu

Non-Human User
User avatar
Joined: 09 Sep 2013
Posts: 8157
Premium Member
Re: Of the shares of stock owned by a certain investor, 30  [#permalink]

Show Tags

New post 11 Jul 2018, 22:49
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
_________________

GMAT Books | GMAT Club Tests | Best Prices on GMAT Courses | GMAT Mobile App | Math Resources | Verbal Resources

GMAT Club Bot
Re: Of the shares of stock owned by a certain investor, 30 &nbs [#permalink] 11 Jul 2018, 22:49
Display posts from previous: Sort by

Of the shares of stock owned by a certain investor, 30

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  

Events & Promotions

PREV
NEXT


Copyright

GMAT Club MBA Forum Home| About| Terms and Conditions and Privacy Policy| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.