Question

Yesterday's closing prices of $2420$ 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 than yesterday?

• A. $484$
• B. $726$
• C. $1100$
• D. $1320$
• E. $1694$

Answer 1

Answer: (D)

The correct option is D $1320$
Let $n$ be the number of stocks that closed at a lower price today than yesterday. Then $1.2n$ is the number of stocks that closed at a higher price today than yesterday, and $1.2n$ is the value asked for.

Because the total number of stocks is $2420$, it follows that $n=\frac{2420}{2.2}=1,100$.

And, hence, $1.2n=\left(1.2\right)(1,100)=1,320$.

Therefore, the stocks closed ata higher price today than yesterday are $1320$.