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06 Jul 2020, 05:31
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C
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
75%
(hard)
Question Stats:
59% (02:50) correct
41%
(03:10)
wrong
based on 121
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Shares of XYZ Co and ABC Corp are sold on a stock exchange that closes at 5 p.m. each day. At the close of business on Monday, shares of XYZ Co sold for half the price of shares of ABC Corp. On Tuesday and Wednesday, the price of shares of XYZ Co decreased at a rate of \(\frac{1}{5}\) per day. During that same period, shares of ABC Corp increased at a rate of \(\frac{1}{4}\) per day. At the close of business on Wednesday, the price of shares of ABC Corp was how many times greater, rounded to the nearest integer, than the price of shares of XYZ Co?
A. 3
B. 4
C. 5
D. 6
E. 7
A. 3
B. 4
C. 5
D. 6
E. 7
KaramveerBakshi
Joined: 18 Feb 2020
Last visit: 09 Sep 2021
Posts: 288
Given Kudos: 30
Location: India
Schools: HEC Montreal Jindal '23 (S) ISB'22
GMAT 1: 660 Q50 V29
GPA: 3
Updated on: 06 Jul 2020, 08:57
Originally posted by KaramveerBakshi on 06 Jul 2020, 05:47.
Last edited by KaramveerBakshi on 06 Jul 2020, 08:57, edited 1 time in total.
Last edited by KaramveerBakshi on 06 Jul 2020, 08:57, edited 1 time in total.
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Assuming the shares of ABC at the end of Monday = 100
Therefore, XYZ shares = 50
XYZ shares decreased by 1/5 for two consecutive days (Tue and Wed) = (50 - 50*0.2) = 40 (end of day 1) ----> (40 - 40*0.2) = 32 (end of day 2 (Wednesday))
Similarly, ABC shares increase by 1/4 for two consecutive days (Tue and Wed) = 100 + 100*0.25 = 125 (end of day 1) ----> (125 + 125*0.25) = 125 * 1.25
Now, solving, ABC/XYZ = (125 * 1.25 )/ 32
This rounded off gives 4.
Answer (B)
Edit: Checked my calculation again.
The number would be closer to 5.
Answer would be (C).
Therefore, XYZ shares = 50
XYZ shares decreased by 1/5 for two consecutive days (Tue and Wed) = (50 - 50*0.2) = 40 (end of day 1) ----> (40 - 40*0.2) = 32 (end of day 2 (Wednesday))
Similarly, ABC shares increase by 1/4 for two consecutive days (Tue and Wed) = 100 + 100*0.25 = 125 (end of day 1) ----> (125 + 125*0.25) = 125 * 1.25
Now, solving, ABC/XYZ = (125 * 1.25 )/ 32
This rounded off gives 4.
Answer (B)
Edit: Checked my calculation again.
The number would be closer to 5.
Answer would be (C).
06 Jul 2020, 06:02
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Explanation:
ABC share on monday = 1000
so xyz will be = 500
now xyz share decreased by 1/5 for 2 days: 500x0.8x0.8 = 320
abc share increased by 1/4 for next 2 days: 100x1.25x1.25 = 1562.5
So Ratio: 1562.5/320 = 4.88 = 5(aprox)
IMO-C
ABC share on monday = 1000
so xyz will be = 500
now xyz share decreased by 1/5 for 2 days: 500x0.8x0.8 = 320
abc share increased by 1/4 for next 2 days: 100x1.25x1.25 = 1562.5
So Ratio: 1562.5/320 = 4.88 = 5(aprox)
IMO-C
