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25 Jan 2014, 02:16
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Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
15%
(low)
Question Stats:
79% (01:36) correct
21%
(01:51)
wrong
based on 1606
sessions
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Of the shares of stock owned by a certain investor, 30 percent are shares of Company X stock and 1/7 of the remaining shares are shares of Company Y stock. How many shares of Company X stock does the investor own?
(1) The investor owns 100 shares of Company Y stock.
(2) The investor owns 200 more shares of Company X stock than of Company Y stock.
(1) The investor owns 100 shares of Company Y stock.
(2) The investor owns 200 more shares of Company X stock than of Company Y stock.
17 Apr 2015, 10:48
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Hi All,
The speed and ease with which you handle this DS question will likely be based on how you organize your information. You can 'set up' this question using percents, fractions or decimals (depending on whatever 'format' you think is easiest to deal with).
We're told that an investor owns a variety of shares of stock:
1) 30 percent are shares of Company X stock
2) 1/7 of the REMAINING shares are shares of Company Y stock.
This means that we can organize the shares into 3 categories:
1) Shares of Company X (30% of the investor's shares)
2) Shares of Company Y (1/7 of 70% = 10% of the investor's shares)
3) Shares of Other Companies (the remaining 60% of the investor's shares)
We're asked for the number of shares of Company X stock that the investor owns.
Fact 1: The investor owns 100 shares of Company Y stock.
Since these 100 shares represent 10% of the investor's shares, then the TOTAL shares = 100(10) = 1,000. Since 30% of the TOTAL shares = Company X shares, we know that (30%)(1000) = 300 is the number of shares.
Fact 1 is SUFFICIENT
Fact 2: The investor owns 200 more shares of Company X stock than of Company Y stock.
This Fact helps us to create the following equation:
(30%)(Total shares) = (10%)(Total shares) + 200
(20%)(Total shares) = 200
Total shares = 1,000
Again, we can calculate the total shares of Company X stock = (30%)(1,000) = 300
Fact 2 is SUFFICIENT
Final Answer:
GMAT assassins aren't born, they're made,
Rich
The speed and ease with which you handle this DS question will likely be based on how you organize your information. You can 'set up' this question using percents, fractions or decimals (depending on whatever 'format' you think is easiest to deal with).
We're told that an investor owns a variety of shares of stock:
1) 30 percent are shares of Company X stock
2) 1/7 of the REMAINING shares are shares of Company Y stock.
This means that we can organize the shares into 3 categories:
1) Shares of Company X (30% of the investor's shares)
2) Shares of Company Y (1/7 of 70% = 10% of the investor's shares)
3) Shares of Other Companies (the remaining 60% of the investor's shares)
We're asked for the number of shares of Company X stock that the investor owns.
Fact 1: The investor owns 100 shares of Company Y stock.
Since these 100 shares represent 10% of the investor's shares, then the TOTAL shares = 100(10) = 1,000. Since 30% of the TOTAL shares = Company X shares, we know that (30%)(1000) = 300 is the number of shares.
Fact 1 is SUFFICIENT
Fact 2: The investor owns 200 more shares of Company X stock than of Company Y stock.
This Fact helps us to create the following equation:
(30%)(Total shares) = (10%)(Total shares) + 200
(20%)(Total shares) = 200
Total shares = 1,000
Again, we can calculate the total shares of Company X stock = (30%)(1,000) = 300
Fact 2 is SUFFICIENT
Final Answer:
GMAT assassins aren't born, they're made,
Rich
25 Jan 2014, 02:17
Kudos
Bookmarks
Let N be the number of total shares the investor owns.
0.3 N = number of Company X stock he owns
1/7 of 0.7 N (the remaining shares) = 0.1 N = number of Company Y stock he owns
Goal is to calculate N. X is 30% of N (which is what we are asked to calculate).
Statement 1:
100 Y shares and we know Y shares are 10% of the total N.
0.1 N = 100. N is therefore 1,000. SUFFICIENT.
Statement 2:
He owns 30% N shares and 10% Y shares. And that differential is 200.
0.3 N - 0.1 N = 200. N is therefore 1,000. SUFFICIENT.
0.3 N = number of Company X stock he owns
1/7 of 0.7 N (the remaining shares) = 0.1 N = number of Company Y stock he owns
Goal is to calculate N. X is 30% of N (which is what we are asked to calculate).
Statement 1:
100 Y shares and we know Y shares are 10% of the total N.
0.1 N = 100. N is therefore 1,000. SUFFICIENT.
Statement 2:
He owns 30% N shares and 10% Y shares. And that differential is 200.
0.3 N - 0.1 N = 200. N is therefore 1,000. SUFFICIENT.
