This is a 500-600 level DS problem from CAT. It's kinda a stupid question, but I don't see why answer C "Both statements TOGETHER are sufficient" couldn't be the right answer. The correct answer is "E". Couldn't we just solve for y in statement 1 and substitute it in statement 2, which will give us value for x? Also follows the rule of 2 equations, 2 variables -- we must be able to solve for x. Let me know why the answer is E.
Answer:
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Answer
given,
Price of the stock = $36
stock price fall per day = $1.50
number of days price fall = 7 days
a) the price of the stock changes by = $1.50 x 7
= $10.5
Price of stock decreased by $10.5
b) Price of stock after 7 days
= $36 - $10.5
= $25.5
the value of stock after 7 days is equal to $25.5
I'm not very sure, but I hope it'll help.
