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Shares of XYZ Co and ABC Corp are sold on a stock exchange t
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22 Apr 2020, 13:07
22 Apr 2020, 13:07
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Question Stats:
46% (02:42) correct
53% (02:56) wrong based on 15 sessions
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Shares of XYZ Co and ABC Corp are sold on a stock exchange that closes at 5 p.m. each day. At the close of business on Monday, shares of XYZ Co sold for half the price of shares of ABC Corp. On Tuesday and Wednesday, the price of shares of XYZ Co decreased at a rate of \(\frac{1}{5}\) per day. During that same period, shares of ABC Corp increased at a rate of \(\frac{1}{4}\) per day. At the close of business on Wednesday, the price of shares of ABC Corp was how many times greater, rounded to the nearest integer, than the price of shares of XYZ Co?
Show: :: OA
5
Re: Shares of XYZ Co and ABC Corp are sold on a stock exchange t
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23 Apr 2020, 01:11
23 Apr 2020, 01:11
1
Consider shares of ABC are 80 and thus, shares of XYZ must be 40. Price of XYZ decreases by 1/5, 1/5*40 = 8, 40-8 = 32, and 1/5*32 = 6.4, 32-6.4 = 25.6.
Price of stocks ABC increase by 1/4 , 1/4*80 = 20. 80+20 = 100, and 1/4*100 = 25 , 100+25 = 125.
Thus, 125/25.6 which is close to 5.
Price of stocks ABC increase by 1/4 , 1/4*80 = 20. 80+20 = 100, and 1/4*100 = 25 , 100+25 = 125.
Thus, 125/25.6 which is close to 5.
gmatclubot
Re: Shares of XYZ Co and ABC Corp are sold on a stock exchange t [#permalink]
23 Apr 2020, 01:11
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