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GMAT - Problem Solving - Word Problems

Yesterday's closing prices of 2,420 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 clo

Yesterday's closing prices of 2,420 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 today than yesterday?

(A) 484
(B) 726
(C) 1,100
(D) 1,320
(E) 1,694

Let the number of stocks that closed at a lower price be x

therefore number of stocks that closed at a higher price = x + 20% of x = 1.2x

total number of stocks = x + 1.2x = 2.2x

2420 = 2.2x

1100 = x

number of stocks that closed at a higher price = 2420 - 1100 = 1320

D.