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30 Jul 2018, 00:27
00:00

Difficulty:

35% (medium)

Question Stats:

66% (01:29) correct 34% (01:39) wrong based on 193 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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