Problema Solution
Michael purchased a certain number of shares of one stock for a total of $336. The second stock was selling for $3 less per share. Michael could have bought 2 more shares of the second stock for the same amount of money. How many shares of the first stock did Michael purchase? How much did each share cost?
Answer provided by our tutors
Let
x = the number of shares of the first stock purchased
y = the cost per share for the first stock
y - 3 = the cost per share for the second stock
xy = 336 follows y = 336/x
(x + 2)(y - 3) = 336
(x + 2)(336/x - 3) = 336
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click here to see the equation solved for x
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x = 12 shares
y = 336/12
y = $28 per share for the first stock
y - 3 = 28 = 3 = $25 per share for the second stock
Michael purchased 12 shares of the first stock.
For the first stock the cost per share is: $28 per share.
For the second stock the cost per share is: $25 per share.