carcass wrote:

The closing price of Stock X changed on each trading day last month. The percent change in the closing price of Stock X from the first trading day last month to each of the other trading days last month was less than 50 percent. If the closing price on the second trading day last month was $ 10.00, which of the following CANNOT be the closing price on the last trading day last month?

A. $ 3.00

B. $ 9.00

C. $ 19.00

D. $ 24.00

E. $ 29.00

Price of stock X on 2nd day was $10

Since %ge change of first day w.r.t any other day of the month cannot be more than 50%

So, y<Price of stock X on 1st day <x

Now ((10-y)/y )*100 = 50

-> (10-y)/y = .5

-> 10 - y = .5y

y = 10 /1.5 = 6.666

x-10 /x = .5

x -10 = .5x

.5x = 10

x = 20

So, 6.6666< Price of stock X on 1st day < 20

Since price on other days can vary by only 50% from the 1st day.

So, 6.6666*0.5 < Price of stock X on other days < 20*1.5

3.3333< Price of stock X on other days < 30

Only option A i.e. $3 doesn't lies in this range.

Hence

Answer AAppreciate if you liked my solution ...

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