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11 Sep 2016, 09:19
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E
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
25%
(medium)
Question Stats:
75% (01:46) correct
25%
(01:56)
wrong
based on 320
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A group of 20 friends formed an investment club, with each member contributing an equal amount to the general fund, which amounted to d dollars, in Stock X. The value of the stock subsequently increased 40 percent, at which point the stock was sold and the proceeds divided evenly amoung the members. In terms of d, how much money did each member of the club receive from the sale?
(A) 800d
(B) \(7d/5\)
(C) \(d /20 + 40\)
(D) \(d/2\)
(E) \(7d/100\)
(A) 800d
(B) \(7d/5\)
(C) \(d /20 + 40\)
(D) \(d/2\)
(E) \(7d/100\)
11 Sep 2016, 09:41
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d becomes 1.4d after increase in stock value.
1.4d has to be divided equally among 20 people.
=1.4d/20. =7d/100
E
Sent from my iPhone using GMAT Club Forum mobile app
1.4d has to be divided equally among 20 people.
=1.4d/20. =7d/100
E
Sent from my iPhone using GMAT Club Forum mobile app
11 Sep 2016, 18:57
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Hi azamaka,
This question can be solved by TESTing VALUES.
We're told that each of 20 members donated the SAME amount of money to a fund and that the TOTAL was D dollars.
IF...
each member contributed $1, then D=20, and we have $20 worth of stock
Next, we're told that the value of the stock increased 40%...
$20 + (.4)($20) = $20 + $8 = $28
The stock is then sold and the money is given equally to the 20 members. This means that each member received...
$28/20 = $1.40
We're asked for how much each member received, so we're looking for an answer that equals 1.4 when D=20... There's only one answer that matches...
Final Answer:
GMAT assassins aren't born, they're made,
Rich
This question can be solved by TESTing VALUES.
We're told that each of 20 members donated the SAME amount of money to a fund and that the TOTAL was D dollars.
IF...
each member contributed $1, then D=20, and we have $20 worth of stock
Next, we're told that the value of the stock increased 40%...
$20 + (.4)($20) = $20 + $8 = $28
The stock is then sold and the money is given equally to the 20 members. This means that each member received...
$28/20 = $1.40
We're asked for how much each member received, so we're looking for an answer that equals 1.4 when D=20... There's only one answer that matches...
Final Answer:
GMAT assassins aren't born, they're made,
Rich
