If $4500 dollars was invested in a bond fund when the price per share was $9 and $3000 was invested when the price was $10, What is the average price per share?
Please explain how you arrive at the answer.
I would add that with a simple glance you can get rid of 3 of the answers immediately.
Note that if the same number of shares were purchased at each price point, the average would be $9.5/share. Since more shares were purchased at $9 than $10 ($4500 vs $3000 ~ 500 to 300), we know the average is closer to 9 than 10. Therefore we can cross out c, d, and e. This is a good way to check your answer if you are prone (like me) to dumb errors.