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31 May 2022, 03:15
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Last year Mrs. Long received $160 in dividends on her shares of Company X stock, all of which she had held for the entire year. If she had had 12 more shares of the stock last year, she would have received $15 more in total annual dividends. How many shares of the stock did she have last year?
(A) 128
(B) 140
(C) 172
(D) 175
(E) 200
(A) 128
(B) 140
(C) 172
(D) 175
(E) 200
09 Nov 2023, 10:38
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I had another method. I will explain.
The share to dividend ratio is 12:15 (which is equal to 4:5)
Step 1: go from 4:5 to S:160 with S the number of shares you're looking for.
Step 2: to go from 5 to 160 you multiply 5 by 32 (160/5=32).
Step 3: multiply 4 by 32 = 128
Final ratio: 128:160
The share to dividend ratio is 12:15 (which is equal to 4:5)
Step 1: go from 4:5 to S:160 with S the number of shares you're looking for.
Step 2: to go from 5 to 160 you multiply 5 by 32 (160/5=32).
Step 3: multiply 4 by 32 = 128
Final ratio: 128:160
31 Oct 2023, 17:39
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What I did is first finding the dividend per share:
15/12 is the dividend per share (as 12 more shares result in an additional 15$ in total dividends)
thus I set up the equation where X is the original amount of shares:
160 + 15 = (X+12)*15/12
X = 128
15/12 is the dividend per share (as 12 more shares result in an additional 15$ in total dividends)
thus I set up the equation where X is the original amount of shares:
160 + 15 = (X+12)*15/12
X = 128
