GRE Prep Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.
Customized
for You
Track
Your Progress
Practice
Pays
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
A stockbroker has made a profit on 80% of his 40 trades this
[#permalink]
Updated on: 17 Jun 2018, 02:01
Updated on: 17 Jun 2018, 02:01
1
12
Bookmarks
00:00
Question Stats:
30% (02:02) correct
69% (01:27) wrong based on 92 sessions
Hide Show timer Statistics
A stockbroker has made a profit on 80% of his 40 trades this year.
A)The quantity in Column A is greater.
B)The quantity in Column B is greater.
C)The two quantities are equal.
D)The relationship cannot be determined from the information given.
Quantity A |
Quantity B |
23 |
The maximum number of consecutive trades that the stockbroker can lose before his profitable trades drop below 50% for the year |
A)The quantity in Column A is greater.
B)The quantity in Column B is greater.
C)The two quantities are equal.
D)The relationship cannot be determined from the information given.
Originally posted by Shrija Roy on 16 Jun 2018, 09:02.
Last edited by Carcass on 17 Jun 2018, 02:01, edited 2 times in total.
Last edited by Carcass on 17 Jun 2018, 02:01, edited 2 times in total.
Formatted
Re: Percent
[#permalink]
16 Jun 2018, 10:34
16 Jun 2018, 10:34
Expert Reply
Are you sure this is a question from the OG 1st edition ??
Moreover, it is QCQ not a multiple answer choice question
Moreover, it is QCQ not a multiple answer choice question
Re: Percent
[#permalink]
16 Jun 2018, 13:43
16 Jun 2018, 13:43
2
Expert Reply
2
Bookmarks
Shrija Roy wrote:
A stockbroker has made a profit on 80% of his 40 trades this year.
A: 23
B: The maximum number of consecutive trades that the stockbroker can lose before his profitable trades drop below 50% for the year
A: 23
B: The maximum number of consecutive trades that the stockbroker can lose before his profitable trades drop below 50% for the year
The boker has already made 40 trades and 80% of them are profitable.
Let us suppose that the broker makes \(x\) more trades and looses them all.
Now this value of x is such that his percent of profitable trades become 50%.
Initially the broker had made: 40 trades of which 80% were profitable or \(\frac{80}{100} \times 40=32\) profitable and 8 loss making.
Now with the new \(x\) number of trades he is 50% loss making so \(\frac{50}{100} \times (40+x)=8+x\).
Remember that he already had 8 trades which lost money previously. Solve for x and you shall get the value \(x=24\).
So if he makes 24 more trades and losses them all he will have 50% profitability.
You can cross check by putting the values
40 trades ---------------- 32 profit ---------------- 8 loss
40 +24 trades ------------ 32 profit ---------------- 8 loss +24 loss =32 loss.
After 24 the profitability is 50% not BELOW 50%.
He needs to loose 25 trades to go below 50%. Hence option B is correct!
