DI Test 52
Directions for Questions from 1 to 5:
Answer the question on the basis of the information given below.
Two traders, Chetan and Michael, were involved in the buying and selling of MCS shares over five trading days. At the beginning of the first day, the
MCS share was priced at Rs 100, while at the end of the fifth day it was priced at Rs 110. At the end of each day, the MCS share price either went
up by Rs 10, or else, it came down by Rs 10. Both Chetan and Michael took buying and selling decisions at the end of each trading day.
The beginning price of MCS share on a given day was the same as the ending price of the previous day.
Chetan and Michael started with the same number of shares and amount of cash, and had enough of both. Below are some additional facts about
how Chetan and Michael traded over the five trading days.
● Each day if the price went up, Chetan sold 10 shares of MCS at the closing price. On the other hand, each day if the price went down, he bought 10
shares at the closing price.
● If on any day, the closing price was above Rs 110, then Michael sold 10 shares of MCS, while if it was below Rs 90, he bought 10 shares, all at the
closing price.
1. If Michael ended up with 20 more shares than Chetan at the end of day 5, what was the price of the share at the end of day 3?
90
100
110
120
130
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2. What could have been the maximum possible increase in combined cash balance of Chetan and Michael at the end of the fifth day?
Rs 3700
Rs 4000
Rs 4700
Rs 5000
Rs 6000
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3. If Chetan ended up with Rs 1300 more cash than Michael at the end of day 5, what was the price of MCS share at the end of day 4?
Rs 90
Rs 100
Rs 110
Rs 120
Not uniquely determinable
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4. If Michael ended up with Rs 100 less cash than Chetan at the end of day 5, what was the difference in the number of shares possessed by Michael
and Chetan (at the