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Total price of all shares bought ($7500) Divided by number of shares purchased at each price ( 500+ 300 = 800)$7500/800 = $9.375 Intern Joined: 08 Sep 2006 Posts: 34 Followers: 0 Kudos [?]: 0 [0], given: 0 Re: Avg Price? [#permalink] ### Show Tags 24 Jul 2007, 07:30 tinman1412 wrote: 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? a) 9.40 b) 9.375 c) 9.50 d) 9.75 e) 10.0 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.
Re: Avg Price?   [#permalink] 24 Jul 2007, 07:30
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