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On Monday, the price of a certain stock was × dollars. On Tuesday, the

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achloes
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On Monday, the price of a certain stock was × dollars. On Tuesday, the [#permalink] New post   09 Jun 2023, 06:06
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On Monday, the price of a certain stock was × dollars. On Tuesday, the price of the stock was y dollars. What was the percent change in the price of the stock from Monday to Tuesday?

1) y - x = -$20
2) y = x/3
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Re: On Monday, the price of a certain stock was × dollars. On Tuesday, the [#permalink] New post   15 Jul 2023, 08:31
1
Kudos
Cost of stock is x $ on Monday and $ y on Tuesday.

x-y/x is % change

#1
y-x =-20
For different values of y,x we get different % change values
Insufficient
#2
3y=x

% change is
2/3 66.6%
Option B

achloes wrote:
On Monday, the price of a certain stock was × dollars. On Tuesday, the price of the stock was y dollars. What was the percent change in the price of the stock from Monday to Tuesday?

1) y - x = -$20
2) y = x/3


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Re: On Monday, the price of a certain stock was × dollars. On Tuesday, the [#permalink] New post   15 Jul 2023, 08:35
1
Kudos
We need to find percent change in stock price. For % change, actual value is not required. Instead,

\(\frac{change}{actual value} = \frac{(y-x)}{x} \)is required.

(1): y - x = -$20, this tells about change, but actual value (x) can be anything hence insufficient.

(2): \(y = \frac{x}{3}\). Plug this into our equation,

\(\frac{(y-x)}{x}\) = (2x/3)/x

Solvable hence sufficient.

Option B is the answer.
achloes wrote:
On Monday, the price of a certain stock was × dollars. On Tuesday, the price of the stock was y dollars. What was the percent change in the price of the stock from Monday to Tuesday?

1) y - x = -$20
2) y = x/3
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gmatclubot
Re: On Monday, the price of a certain stock was × dollars. On Tuesday, the [#permalink]
15 Jul 2023, 08:35

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