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30 Jul 2018, 00:27
10
00:00

Difficulty:

35% (medium)

Question Stats:

71% (01:47) correct 29% (01:49) wrong based on 508 sessions

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On Monday, the opening price of a certain stock was $100 per share and its closing price was$110 per share. On Tuesday the closing price of the stock was 10 percent less than its closing price on Monday, and on Wednesday the closing price of the stock was 4 percent greater than its closing price on Tuesday. What was the approximate percent change in the price of the stock from its opening price on Monday to its closing price on Wednesday?

A. A decrease of 6%
B. A decrease of 4%
C. A decrease of 1%
D. An increase of 3%
E. An increase of 4%

NEW question from GMAT® Quantitative Review 2019

(PS00335)

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05 Aug 2018, 08:06
1
Bunuel wrote:
On Monday, the opening price of a certain stock was $100 per share and its closing price was$110 per share. On Tuesday the closing price of the stock was 10 percent less than its closing price on Monday, and on Wednesday the closing price of the stock was 4 percent greater than its closing price on Tuesday. What was the approximate percent change in the price of the stock from its opening price on Monday to its closing price on Wednesday?

A. A decrease of 6%
B. A decrease of 4%
C. A decrease of 1%
D. An increase of 3%
E. An increase of 4%

NEW question from GMAT® Quantitative Review 2019

(PS00335)

Monday:- Opening price per share=100$& Closing price per share=$110
Tuesday:-The closing price of the stock was 10 percent less than its closing price on Monday.
Or, Closing share price=110(1-0.10)=110*0.9=$99 Wednesday:- The closing price of the stock was 4 percent greater than its closing price on Tuesday. Or, Closing share price=99(1+0.04)=99*1.04=$102.96

Now, %change in the price of the stock from its opening price on Monday to its closing price on Wednesday=$$\frac{102.96-100}{100}*100$$=2.96%

Ans. (D)
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10 Aug 2018, 18:57
Bunuel wrote:
On Monday, the opening price of a certain stock was $100 per share and its closing price was$110 per share. On Tuesday the closing price of the stock was 10 percent less than its closing price on Monday, and on Wednesday the closing price of the stock was 4 percent greater than its closing price on Tuesday. What was the approximate percent change in the price of the stock from its opening price on Monday to its closing price on Wednesday?

A. A decrease of 6%
B. A decrease of 4%
C. A decrease of 1%
D. An increase of 3%
E. An increase of 4%

The closing price on Wednesday was:

110 x 0.9 x 1.04 = 102.96, which is about 103

So the percent change is:

(103 - 100)/100 x 100 = increase of 3%

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Re: On Monday, the opening price of a certain stock was $100 per share and [#permalink] ### Show Tags 08 Jan 2019, 16:12 Top Contributor Bunuel wrote: On Monday, the opening price of a certain stock was$100 per share and its closing price was $110 per share. On Tuesday the closing price of the stock was 10 percent less than its closing price on Monday, and on Wednesday the closing price of the stock was 4 percent greater than its closing price on Tuesday. What was the approximate percent change in the price of the stock from its opening price on Monday to its closing price on Wednesday? A. A decrease of 6% B. A decrease of 4% C. A decrease of 1% D. An increase of 3% E. An increase of 4% NEW question from GMAT® Quantitative Review 2019 (PS00335) On Monday, the opening price of a certain stock was$100 per share and its closing price was $110 per share. On Tuesday the closing price of the stock was 10 percent less than its closing price on Monday, We can say that the stock LOST 10% of its value. OR we can say that the stock RETAINED 90% of its value. In other words, Tuesday's closing price = 90% of$110 = (0.9)($110) =$99

On Wednesday, the closing price of the stock was 4 percent greater than its closing price on Tuesday
In other words, the stock increased by 4% of $99 In other words, Wednesday's closing price =$99 + (4% of $99) ASIDE: since the question asks us for an approximate percentage change, we can APPROXIMATE the value of 4% of$99
4% of $100 =$4, so 4% of $99 is VERY CLOSE to$4
Wednesday's closing price ≈ $99 +$4 ≈$103 What was the approximate percentage change in the price of the stock from its opening price on Monday to its closing price on Wednesday? The stock increased from$100 to $103 This represents a 3% increase. Answer: D Cheers, Brent _________________ Test confidently with gmatprepnow.com Re: On Monday, the opening price of a certain stock was$100 per share and   [#permalink] 08 Jan 2019, 16:12
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