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25 Nov 2010, 09:30
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B
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Question Stats:
51% (02:12) correct
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If the total price of n equally priced stock shares is p, what is p?
(1) If the price of each share were to increase by $1, p would increase by $40.
(2) If the price of half of the shares increased by 25 percent each, p would increase by $10.
(1) If the price of each share were to increase by $1, p would increase by $40.
(2) If the price of half of the shares increased by 25 percent each, p would increase by $10.
25 Nov 2010, 14:01
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I hope I read the question right, I got a bit confused with statement #2.
From the question, let n be the number of stocks, x be the price of each stock, and p is…what p is.
So our equation is nx = p, and we want n and x
1) x increase by $1, then p increase by $40, and simply implies n = 40. Not sufficient since we don’t know x
2) 25% price increase for only half of the shares and p increased by 10. So…
(1/2 n * x) + (1/2 n * 5/4 x) = p + 10
9/8 nx = p + 10
Since: nx = p, substitute nx with p in the above equation
p = 80. Sufficient.
From the question, let n be the number of stocks, x be the price of each stock, and p is…what p is.
So our equation is nx = p, and we want n and x
1) x increase by $1, then p increase by $40, and simply implies n = 40. Not sufficient since we don’t know x
2) 25% price increase for only half of the shares and p increased by 10. So…
(1/2 n * x) + (1/2 n * 5/4 x) = p + 10
9/8 nx = p + 10
Since: nx = p, substitute nx with p in the above equation
p = 80. Sufficient.
whiplash2411
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25 Nov 2010, 16:04
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rxs0005
Let us assume the price of each stock to be x, then we are told that nx = p.
Statement 1:\(n (x+1) = p + 40. nx + n = p + 40\) But we know that nx = p, which means that n = 40. Insufficient.
Statement 2: \(\frac{nx}{2} + \frac{5nx}{4*2} = p + 10\)
\(\frac{4nx}{8} + \frac{5nx}{8} = p + 10\)
\(\frac{9nx}{8} = p + 10.\) But we know that nx = p. Thus we have \(\frac{9p}{8} - p = 10.\) Hence p = 80. This is sufficient and hence the answer is B.
