Jun 29 07:00 AM PDT  09:00 AM PDT Learn reading strategies that can help even nonvoracious reader to master GMAT RC Jun 30 07:00 AM PDT  09:00 AM PDT Get personalized insights on how to achieve your Target Quant Score. Jul 01 08:00 AM PDT  09:00 AM PDT Game of Timers is a teambased competition based on solving GMAT questions to win epic prizes! Starting July 1st, compete to win prep materials while studying for GMAT! Registration is Open! Jul 01 10:00 PM PDT  11:00 PM PDT Join a FREE 1day workshop and learn how to ace the GMAT while keeping your fulltime job. Limited for the first 99 registrants.
Author 
Message 
TAGS:

Hide Tags

Manager
Joined: 03 Jan 2017
Posts: 139

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



Manager
Joined: 05 Apr 2014
Posts: 138
Location: India
Concentration: Economics, International Business
GPA: 3

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



Current Student
Joined: 28 May 2014
Posts: 518

Re: Yesterday's closing prices of 2,420 different stocks... (PS)
[#permalink]
Show Tags
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. Answer D.
_________________



Current Student
Joined: 25 Feb 2017
Posts: 34
Location: Korea, Republic of
GPA: 3.67

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



Intern
Joined: 30 Mar 2016
Posts: 37

Re: Yesterday's closing prices of 2,420 different stocks listed
[#permalink]
Show Tags
28 Apr 2017, 03:37
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.



Veritas Prep GMAT Instructor
Joined: 16 Oct 2010
Posts: 9369
Location: Pune, India

Re: Yesterday's closing prices of 2,420 different stocks listed
[#permalink]
Show Tags
28 Apr 2017, 05:58
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.
_________________
Karishma Veritas Prep GMAT Instructor
Learn more about how Veritas Prep can help you achieve a great GMAT score by checking out their GMAT Prep Options >



Manager
Joined: 15 Dec 2015
Posts: 115
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.



VP
Joined: 09 Mar 2016
Posts: 1274

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: 2420y+20%(2420y) where 2420y is stocks that have a lower price and 20%(2420y) is +20 % more . can you please say whats wrong is with my solution ?:)



Manager
Joined: 07 Jun 2017
Posts: 166
Location: India
Concentration: Technology, General Management
GPA: 3.6
WE: Information Technology (Computer Software)

Re: Yesterday's closing prices of 2,420 different stocks listed
[#permalink]
Show Tags
29 Aug 2017, 03:45
I have confused here for example consider there are total 100 stocks. Then 20% of the stocked closed higher than the lower means there should be 60 stocks closed higher today and 40 stocks closed lower. The in 2420*60/100 = 1552 stocks right? Can anybody explain me what is wrong with this approach?
_________________
Regards, Naveen email: nkmungila@gmail.com Please press kudos if you like this post



Intern
Joined: 31 Oct 2017
Posts: 5

Re: Yesterday's closing prices of 2,420 different stocks listed
[#permalink]
Show Tags
28 Feb 2019, 12:41
Bunuel wrote: bytatia wrote: I'm having a huge problem understanding the solution for some reason. I do not understand why 1.2x+x=2420
So there are 2 420 stocks. Yesterday X were sold at lower price and Y and higher price.
So today I know that stocks sold at a higher price are 20 percent more than stocks sold at a lower price yesterday. Which would indeed give me 1.2X but! Don't I need to have another unknown? 1.2X + z = 2 420. as Z would represent number of stocks sold at higher price today. So I do not see why we get 1.2x + x as we did not use X for today's number of stocks sold at lower price.
I must be missing the important point. If someone could explain I'd be very thankful. There are total of 2,420 stocks, out of them the number of stocks that closed at a higher price than yesterday was 20% greater than number that closed at lower price. Say \(x\) is the number of stocks that closed at a lower price TODAY, then \(1.2x\) is the number of stocks that closed at a higher price TODAY. Since the total number of stocks is 2,420, then \(x+1.2x=2,420\) > \(x=1,100\), so \(1.2x=1,320\). Hope it's clear. What I don't understand here is: the problem says "Yesterday’s closing prices of 2,420 different stocks.." So the 2,420 stocks are from yesterday. How can we consider x+1.2x (TODAY) = 2,420 (YESTERDAY)?



Intern
Joined: 25 Dec 2018
Posts: 9
Location: India
Concentration: Technology, Real Estate
WE: Business Development (Computer Software)

Re: Yesterday's closing prices of 2,420 different stocks listed
[#permalink]
Show Tags
06 Apr 2019, 03:52
In order to solve this problem, Step 1: We need to calculate 6% of the amount budgeted for the various accounts. For Finding 6% the easiest method is to find 1% of each amount or do 1/100 for each account and then multiply by 6 i.e. Payroll  1100X6 =6600 Taxes  400X6=2400 Insurance  25X6=150
Step 2: The range of the various departments are Payroll  103400 to 116000 Taxes  37600 to 42400 Insurance  2350 to 2650
From the values given in the question stem for the amount spent, Payroll and Insurance have values outside the range. Hence Option D is our answer.



Manager
Joined: 10 Mar 2016
Posts: 114
Location: India
Concentration: Finance, Real Estate

Re: Yesterday's closing prices of 2,420 different stocks listed
[#permalink]
Show Tags
18 Jun 2019, 08:35
Let High Price be HP and Lower price be LP. Then, Equation 1  HP + LP = 2420 Equation 2  HP=1.2 LP By Solving HP(1+5/6) = 2420 HP = 220*6 HP = 1320
_________________
Please Hit Kudos if you like my post useful.



Intern
Joined: 10 Nov 2014
Posts: 8
Location: United States
Concentration: Marketing, Strategy

Re: Yesterday's closing prices of 2,420 different stocks listed
[#permalink]
Show Tags
23 Jun 2019, 00:03
Bunuel wrote: bytatia wrote: I'm having a huge problem understanding the solution for some reason. I do not understand why 1.2x+x=2420
So there are 2 420 stocks. Yesterday X were sold at lower price and Y and higher price.
So today I know that stocks sold at a higher price are 20 percent more than stocks sold at a lower price yesterday. Which would indeed give me 1.2X but! Don't I need to have another unknown? 1.2X + z = 2 420. as Z would represent number of stocks sold at higher price today. So I do not see why we get 1.2x + x as we did not use X for today's number of stocks sold at lower price.
I must be missing the important point. If someone could explain I'd be very thankful. There are total of 2,420 stocks, out of them the number of stocks that closed at a higher price than yesterday was 20% greater than number that closed at lower price. Say \(x\) is the number of stocks that closed at a lower price TODAY, then \(1.2x\) is the number of stocks that closed at a higher price TODAY. Since the total number of stocks is 2,420, then \(x+1.2x=2,420\) > \(x=1,100\), so \(1.2x=1,320\). Hope it's clear. Hi,
I am confused with the statement "There are total of 2,420 stocks, out of them the number of stocks that closed at a higher price than yesterday was 20% greater than number that closed at lower price.P lease help me understand
[color=#0000ff]For eg: if we assume following value to understand question.How can we add 120+100 and get 230.Todays' low price will change right if todays high price stock no has increased.
High Price Low Price Total yest 130 100 230 Today 120
[/color]




Re: Yesterday's closing prices of 2,420 different stocks listed
[#permalink]
23 Jun 2019, 00:03



Go to page
Previous
1 2 3
[ 53 posts ]



