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03 Nov 2007, 05:26
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Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
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A certain portfolio consisted of 5 stocks, priced at $20, $35, $40, $45 and $70, respectively. On a given day, the price of one stock increased by 15%, while the price of another decreased by 35% and the prices of the remaining three remained constant. If the average price of a stock in the portfolio rose by approximately 2%, which of the following could be the prices of the shares that remained constant?
A) 20, 35, 70
B) 20, 45, 70
C) 20, 35, 40
D) 35, 40, 70
E) 35, 40, 45
The technique I'm using is not giving the correct answer; the technique that is giving the correct answer, I do not understand. Please show your work and explain your answer.
A) 20, 35, 70
B) 20, 45, 70
C) 20, 35, 40
D) 35, 40, 70
E) 35, 40, 45
The technique I'm using is not giving the correct answer; the technique that is giving the correct answer, I do not understand. Please show your work and explain your answer.
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03 Nov 2007, 06:00
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1. Find what is 2% increase in $ for an average stock (for all stocks).
2. (20+35+40+45+70)*0.02 = 4.2$
3. You know that to yield 4.2$ for all five stocks one stock rose 0.15 and one fell 0.35.
4. 0.15x-0.35y = 4.2 ---> 0.05(3x-7y) = 4.2 ---> 3x-7y = 84
5. The only two stocks that can give you the closest solution for x,y are 70 and 20.
the answer is (E)
2. (20+35+40+45+70)*0.02 = 4.2$
3. You know that to yield 4.2$ for all five stocks one stock rose 0.15 and one fell 0.35.
4. 0.15x-0.35y = 4.2 ---> 0.05(3x-7y) = 4.2 ---> 3x-7y = 84
5. The only two stocks that can give you the closest solution for x,y are 70 and 20.
the answer is (E)
