Problema Solution
An investor bought 400 shares of stock, some at $5.25 per share and some at $7.75 per share. If the total cost was $2662.50, how many shares of each stock did the investor buy?(Round to two decimal places if necessary.)
Answer provided by our tutors
Let
x = the number of shares bought at $5.25 per share
y = the number of shares bought at $7.75 per share
x + y = 400
5.25x + 7.75y = 2662.50
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click here to see the system of equations solved for x and y
........
x = 175 shares
y = 225 shares
The investor bough 175 shares at $5.25 per share and 225 shares at $7.75 per share.