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Yesterday's closing price...

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Yesterday's closing price... [#permalink]

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New post 29 Sep 2017, 22:08
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Yesterday's closing price of 2420 different stocks listed on a certain stock exchange were all different from today's closing prices. The number of stocks that closed at a higher price today than yesterday was 20 percent greater than the number that closed at a lower price. How many of the stocks closed at a higher price today than yesterday?

(A) 484

(B) 726

(C) 1100

(D) 1320

(E) 1694

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1 KUDOS received
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Location: Bangladesh
Concentration: Finance, Accounting
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Re: Yesterday's closing price... [#permalink]

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New post 30 Sep 2017, 01:11
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Hi!

The answer should be D. 1320

let the number of closing stocks with lower price = X
So, the number of closing stocks with higher price = 1.2*X

Therefore, X+1.2*X = 2420
Solving the equation above we find X=1100
So, number of stocks with higher closing price =1.2*X = 1.2*1100 = 1320

Hope it helps and please let me know if I am wrong at any point.

Thanks.

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Re: Yesterday's closing price... [#permalink]

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New post 30 Sep 2017, 01:24
AdityaHongunti wrote:
Yesterday's closing price of 2420 different stocks listed on a certain stock exchange were all different from today's closing prices. The number of stocks that closed at a higher price today than yesterday was 20 percent greater than the number that closed at a lower price. How many of the stocks closed at a higher price today than yesterday?

(A) 484

(B) 726

(C) 1100

(D) 1320

(E) 1694

Sent from my XT1562 using GMAT Club Forum mobile app


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Re: Yesterday's closing price...   [#permalink] 30 Sep 2017, 01:24
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