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The stock price of Company X has a 60% chance of increasing on Monday

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Math Expert
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V
Joined: 02 Sep 2009
Posts: 59568
The stock price of Company X has a 60% chance of increasing on Monday  [#permalink]

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New post 26 Nov 2019, 02:04
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A
B
C
D
E

Difficulty:

  35% (medium)

Question Stats:

50% (01:15) correct 50% (01:17) wrong based on 20 sessions

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The stock price of Company X has a 60% chance of increasing on Monday and a 30% chance of increasing on Tuesday. Assuming the two probabilities are independent, what is the probability that the stock price of Company X increases on at least one of these days?

A. 22%
B. 30%
C. 45%
D. 72%
E. 90%
Senior Manager
Senior Manager
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P
Joined: 13 Feb 2018
Posts: 480
GMAT 1: 640 Q48 V28
Premium Member
Re: The stock price of Company X has a 60% chance of increasing on Monday  [#permalink]

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New post 26 Nov 2019, 05:06
1
For me, it's comfortable to use 1-n
I will count that we will have an increase on neither day and then deduct from 1 to have the prob that at least one increase happens

No increase on Monday = 0.4
No increase on Tuesday = 0.7

Prob of no increase on both days=0.4*0.7=0.28
Prob of at least one increase = 1-0.28=0.72

IMO
ANs: D
GMAT Club Bot
Re: The stock price of Company X has a 60% chance of increasing on Monday   [#permalink] 26 Nov 2019, 05:06
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The stock price of Company X has a 60% chance of increasing on Monday

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