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# Yesterday's closing prices of 2,420 different stocks listed

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Manager
Joined: 03 Jan 2017
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Re: Yesterday's closing prices of 2,420 different stocks listed [#permalink]

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11 Mar 2017, 14:10
x- higher prices
y - lower prices

x=1,2 y
x + y=2420
1,2y + y=2420
2,2y=2420
y=1100
x=1320
Hence, D

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Manager
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Location: India
Schools: ISB '19, Fox"19
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18 Mar 2017, 20:30
Here
Assume stocks that closed at lower price,SL =x
Then SH= 1.2x (20% higher than SL)
Now SH +SL =2420
(No stock was at the same price as before,given in question stem)
So x=110
So SH= 1.2×110=1320

Posted from my mobile device

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Manager
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Re: Yesterday's closing prices of 2,420 different stocks... (PS) [#permalink]

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18 Mar 2017, 21:29
Yesterday’s closing prices of all stocks were different from today’s closing prices.
Therefore, all stocks were closed either at higher price or lower price and none closed at the same price.

Now suppose, stocks closed at lower price = 100x;
Then, stocks closed at higher price = 120x;

So, 100x + 120x = 2420
=>220x = 2420
=>x = 2420/220 = 11.

So, stocks closed at higher price = 120x = 120*11 = 1320.

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Intern
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Re: Yesterday's closing prices of 2,420 different stocks listed [#permalink]

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12 Apr 2017, 00:15
Capricorn369 wrote:
Lets consider the below -
The number of stocks that closed at a higher price = H
The number of stocks that closed at a lower price = L
We understand from first statement -> H+L = 2420 ----(1)
We understand from second statement -> H = (120/100)L => H = 1.2L ----(2)

Solve eq (1) & (2) to get H = 1320.

Questions, Pls let me know. Cheers!

Found this to be the easiest way to solve it. Thanks

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Intern
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Re: Yesterday's closing prices of 2,420 different stocks listed [#permalink]

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15 Apr 2017, 23:56
Yesterday's closing prices of 2,420 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) 1,100
(D) 1,320
(E) 1,694

My 2 cents.

Initially, I could not set up an equation so I tried backsolving.
I chose C first.
If 1,100 is the higher price, then the lower price is 1,320. This is clearly wrong as we need higher price to be bigger than lower price by 20%.

D.
If 1,320 is the higher price, then the lower price is 1,100. 20% higher than 1,100, should be 1,320. So this is the answer.

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Intern
Joined: 30 Mar 2016
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Re: Yesterday's closing prices of 2,420 different stocks listed [#permalink]

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28 Apr 2017, 03:37
1
This post was
BOOKMARKED
Hi all,

X = Higher Price

Y = Lower Price

X is 20% greater than Y => X = 1.2Y . This first thought is straightforward. I got it.

BUT, [ X is 20% greater than Y ] is equivalent to [ Y is 20% less than X ]

So, Y = 0.8X. This second thought will give a different answer.

Kindly clarify why the second thought, Y = 0.8X, is wrong.

Many thanks.

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Veritas Prep GMAT Instructor
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Re: Yesterday's closing prices of 2,420 different stocks listed [#permalink]

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28 Apr 2017, 05:58
2
KUDOS
Expert's post
SISDIT wrote:
Hi all,

X = Higher Price

Y = Lower Price

X is 20% greater than Y => X = 1.2Y . This first thought is straightforward. I got it.

BUT, [ X is 20% greater than Y ] is equivalent to [ Y is 20% less than X ]

So, Y = 0.8X. This second thought will give a different answer.

Kindly clarify why the second thought, Y = 0.8X, is wrong.

Many thanks.

If X is 20% greater than Y, it is not the same as Y is 20% less than X.
Note that the base is different in the two cases.

When you say "X is 20% greater than Y", the base is Y
X = Y + 20% of Y
X is 20% greater than Y
Say Y = 100
X = 100 + 20% of 100 = 120

When you say Y is 20% less than X, the base is X
Y = X - 20% of X
Y is 20% less than X
Say Y = 100
100 = X - 20% of X
100 = 0.8X
X = 125

Note that the value of X in the two cases is different.
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Get started with Veritas Prep GMAT On Demand for $199 Veritas Prep Reviews Kudos [?]: 16383 [2] , given: 229 Manager Joined: 15 Dec 2015 Posts: 99 Kudos [?]: 74 [0], given: 60 GMAT 1: 640 Q47 V31 GPA: 4 WE: Information Technology (Computer Software) Re: Yesterday's closing prices of 2,420 different stocks listed [#permalink] ### Show Tags 19 Jul 2017, 04:50 Here the Question uses an SC Concept Ellipsis.The Ellipsed Noun Phrase is"today than yesterday".Read the Question as follows: Yesterday's closing prices of 2,420 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 of stocks that closed at a lower price today than yesterday. How many of the stocks closed at a higher price today than yesterday? Soln: Let x is the number of stocks that closed at a lower price, then 1.2x is the number of stocks that closed at a higher price. Given, the total number of stocks is 2,420, then x+1.2x=2,420 >> x=1,100, so 1.2x=1,320. Answer: D. Kudos [?]: 74 [0], given: 60 Intern Joined: 09 Mar 2016 Posts: 27 Kudos [?]: 1 [0], given: 7 Re: Yesterday's closing prices of 2,420 different stocks listed [#permalink] ### Show Tags 29 Jul 2017, 03:32 Bunuel wrote: Yesterday's closing prices of 2,420 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) 1,100 (D) 1,320 (E) 1,694 APPROACH #1: Say $$x$$ is the number of stocks that closed at a lower price, then $$1.2x$$ is the number of stocks that closed at a higher price. Since the total number of stocks is 2,420, then $$x+1.2x=2,420$$ --> $$x=1,100$$, so $$1.2x=1,320$$. Answer: D. APPROACH #2: If the number of stocks that closed at a lower price were the same as the number of stocks that closed at a higher price, then the number of stocks that closed at a higher price would be 2,420/2=1,210. Since we know that more stocks closed at a higher price than at a lower price than the answer must be greater than 1,210: eliminate A, B, and C. Now, E cannot be correct, because in this case 1,694 closed at a higher price and ~700 closed at a lower price, but 1,694 is obviously not 20% greater than ~700, so we are left with D. Answer: D. Hope it's clear. Hello Bunuel ! how about approach#3 i expressed so: 2420-y+20%(2420-y) where 2420-y is stocks that have a lower price and 20%(2420-y) is +20 % more . can you please say whats wrong is with my solution ?:) Kudos [?]: 1 [0], given: 7 Re: Yesterday's closing prices of 2,420 different stocks listed [#permalink] 29 Jul 2017, 03:32 Go to page Previous 1 2 3 [ 49 posts ] Similar topics Replies Last post Similar Topics: 12 The closing price of Stock X changed on each trading day last month. T 5 09 Aug 2017, 13:36 1 The price of each share of stock K, when traded at a certain stock exc 3 30 Jun 2017, 09:19 1 Closing prices for a certain stock were recorded each day for a week 2 16 Aug 2016, 07:26 2 When the stock market opened yesterday, the price of a share 4 30 Apr 2017, 23:19 76 A certain portfolio consisted of 5 stocks, priced at$20, 21 09 May 2017, 00:50
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