Yesterday's closing prices of 2,640 different stocks listed on a certain stock exchange were all ...
Yesterday's closing prices of 2,640 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?
Answer/Solution
1,440
Steps/Work
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 = 2640 ----(1)
We understand from second statement -> H = (120/100)L => H = 1.2L ----(2)
Solve eq (1)(2) to get H = 1440.
E is my answer.
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 = 2640 ----(1)
We understand from second statement -> H = (120/100)L => H = 1.2L ----(2)
Solve eq (1)(2) to get H = 1440.
E is my answer.