Page 37 - GMAT 2017b_Neatb

Quantitative Reasoning Test 3

1 By doing this his income increased by N2,500. At
76. Adama bought N36,000 of 7 % stock at 92 and sold it
2 what price did he purchase the second stock?
3 (A) N225
when its price rose to N93 . Find her gain percent.
4 (B) N175
(A) 1.9% ( C) N125
(B) 2.9% (D) N150
( C) 2.3%
(D) 1.4% 83. Find the income percent of a buyer on 5% debentures
of face value N95 and available in the market for
77. A man invested N27,600 in 4% stock at 92. He sold N125.
N20,000 stock when the price rose to N96, and sold the (A) 4.8%
remaining stock when the market value fell to N90. (B) 5.8%
How much did he gain or loss in the transaction? ( C) 3.8%
(A) Gain = N600 (D) 2.8%
(B) Loss = N600
( C) Loss = N650 84. Find the income percent on 10% debentures of par
(D) Gain = N650 value N120 available in the market for N150.
(A) 9%
78. A person invested N28,500 in 5% stock at 95. He sold (B) 8%
N15,000 stock when the price rose to N98 and sold the ( C) 7%
remaining stock when the market value of the stock fell (D) 6%
to N90. How much did he gain or loss in the
transaction? 85. Bolaji has 800 shares of par value N50 each and 600
(A) Gain = N300 debentures of par value N100 each of a company. The
(B) Loss = N300 company pays an annual dividend of 6% on the shares
( C) Gain = N400 and interest of 12% on the debentures. Find the total
(D) Loss = N400 annual income of Bolaji and rate of return on his
investment.
79. Bisi invested N245,000 in 7% stock at 98 and sold the (A) N9,600, 9,6%
stock when its price rose to N100. She invested the sale (B) N8,000, 8%
proceeds in 9% stock at 125. Find the change in income ( C) N10,600, 10.6%
of Bisi. (D) N9,000, 8.6%
(A) N600
(B) N400 86. An astronomical clock has its dial divided into 24
( C) N500 divisions instead of 12, and the small hand goes round
(D) N650 in 24 hours. The large hand goes round once every
hour. If 24th hour is noon, then when are the hands at
80. Lara invested N32,400 in 8% stock at 90. She sold out right angles between 24 and 1?
N18,000 stock when the price rose to N95 and the (A) 23 2 minutes past 24
remaining stock at N98. She invested sale proceeds in 15
1 23
10% stock at 96 . Find the change in income of Lara. (B) 2 minutes past 24
2 15
(A) N750 ( C) 15 15 minutes past 24
(B) N720 23
( C) N760 11
(D) 15 minutes past 24
(D) N740 23
81. A man invested N50,490 in 5% stock at 99 and sold it 87. February 1, 1984 was a Wednesday just like the
when the price rose to N102. He invested the sale February 29, 1984. When will the calender show
proceeds in 8% stock at 96. Find the change in man’s another February with a similar situation?
income (Brokerage: N3) (A) 2000
(A) N1,485 (B) 1996
(B) N1,585 ( C) 2012
( C) N1,385 (D) 2004
(D) N1,685
88. It was Wednesday on January 1, 2000. What would be
82. A man invested N260,000 in 5% stock at 104. He sold the day on January 1, 2002?
the stock when the price rose to N125 and invested the (A) Monday
sale proceeds in 6% stock.
27