## Of the shares of stock owned by a certain investor, 30 percent are shares of Company X stock and 1/7 of the remaining

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### Of the shares of stock owned by a certain investor, 30 percent are shares of Company X stock and 1/7 of the remaining

by BTGmoderatorDC » Wed Oct 05, 2022 4:54 pm

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Of the shares of stock owned by a certain investor, 30 percent are shares of Company X stock and 1/7 of the remaining shares are shares of Company Y stock. How many shares of Company X stock does the investor own?

(1) The investor owns 100 shares of Company Y stock.
(2) The investor owns 200 more shares of Company X stock than of Company Y stock.

OA D

Source: GMAT Prep

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### Re: Of the shares of stock owned by a certain investor, 30 percent are shares of Company X stock and 1/7 of the remainin

by swerve » Sun Oct 09, 2022 8:49 am

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## Global Stats

BTGmoderatorDC wrote:
Wed Oct 05, 2022 4:54 pm
Of the shares of stock owned by a certain investor, 30 percent are shares of Company X stock and 1/7 of the remaining shares are shares of Company Y stock. How many shares of Company X stock does the investor own?

(1) The investor owns 100 shares of Company Y stock.
(2) The investor owns 200 more shares of Company X stock than of Company Y stock.

OA D

Source: GMAT Prep
Let $$N$$ be the number of total shares the investor owns.
$$0.3 N =$$ number of Company $$X$$ stock he owns
$$1/7$$ of $$0.7 N$$ (the remaining shares) $$= 0.1 N =$$ number of Company $$Y$$ stock he owns

Goal is to calculate $$N$$. $$X$$ is $$30\%$$ of $$N$$ (which is what we are asked to calculate).

Statement 1:
$$100 Y$$ shares and we know $$Y$$ shares are $$10\%$$ of the total $$N$$.
$$0.1 N = 100$$. $$N$$ is therefore $$1,000$$. Sufficient $$\Large{\color{green}\checkmark}$$

Statement 2:
He owns $$30\%$$ $$N$$ shares and $$10\%$$ $$Y$$ shares. And that differential is $$200$$.
$$0.3 N - 0.1 N = 200$$. $$N$$ is therefore $$1,000$$. Sufficient $$\Large{\color{green}\checkmark}$$

Hence, D

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