Rakesh Bought 3 Shares of Power Infra. One on 31st April'24, one on 23

Question

Rakesh Bought 3 Shares of Power Infra. One on 31st April'24, one on 23rd May'24 and one on 1st of June'25. Is the sum of buy price of shares is less than 9800$?

(1) Highest buy price ever out of 3 buy prices is 3300$
(2) Second highest buy price is 110$ more than Lowest Buy Price.

To determine B1+B2+B3<9800

B3= 3300. If B1=B2=B3 then B1+B2+B3= 9900 or B1= 1, B2 =1 and B3= 3300 then 3302
(so Not sufficient) 
B1=1, B2= 1102, B3= 1102 then Ok but B1 =8800 and B2= 9900 so not sufficient.

Both combine

B3= 3300, highest case scenario, B2= 3300 then B1= 3190 then Sum= 9790. Sufficient.

arkaja11 · Answer

The answer is wrong . I believe the question should have been -

"Is the sum of buy price of shares is less than $9800?"

Option A clearly conveys that if the highest buy price is $3300, the average cannot be more than that.

iamjatinagrawal · Answer

Without the second statement, we can assume the other two prices to be 3299, then total would be 3299+3299+3300 = 9898 > 9800. Or we can assume both to be 1 which would give the total to be 3302 (3300+1+1) < 9800.

Hence we would need the second statement to properly answer the question!

Hope this helps!

BongBideshini · Answer

Let the three share prices be  H  (highest),  M  (middle), and  L  (lowest).

Question:  Is H+M+L < 9,800?

Statement (1): Highest price (H) is 3,300 
 
 H+M+L<=9900 
 So, H + M + L can be less than or greater than 9800 
  Insufficient.   
 Statement (2): Middle price (M) is 110 more than Lowest price (L) 
 
 M = L + 110. 
 Without knowing H or the actual values of M and L, we cannot determine the sum. 
  Insufficient.   
 Combined (1) and (2): 
 
 From (1), H = 3,300. 
 From (2), M = L + 110. 
 Since H is the highest price, the middle price (M) cannot exceed 3,300. 
  To test the maximum possible sum:  Let M be as large as possible (3,300). 
 If M = 3,300, then L = 3,300 - 110 = 3,190. 
 Max Sum = 3,300 (H) + 3,300 (M) + 3,190 (L) =  9,790 . 
 Since the maximum possible sum is 9,790, the total will always be less than 9,800. 
  Sufficient.   
 Correct Answer: C

Rakesh Bought 3 Shares of Power Infra. One on 31st April'24, one on 23

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Rakesh Bought 3 Shares of Power Infra. One on 31st April'24, one on 23

Prep Toolkit

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