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24 Nov 2018, 08:48
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Difficulty:
5%
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Question Stats:
90% (01:14) correct
10%
(01:47)
wrong
based on 479
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An investor purchased x shares of stock at a certain price. If the stock then increased in price $0.25 per share and the total increase for the x shares was $12.50. how many shares of stock had been purchased?
(A) 25
(B) 50
(C) 75
(D) 100
(E) 125
(A) 25
(B) 50
(C) 75
(D) 100
(E) 125
24 Nov 2018, 09:24
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\(N\) = total number of shares
\(X\) = price per share
\(n(x+0.25)-(xn) = 12.50\)
\(nx+0.25n-xn=12.50\)
\(0.25n=12.50\)
\(n = 50\)
\(X\) = price per share
\(n(x+0.25)-(xn) = 12.50\)
\(nx+0.25n-xn=12.50\)
\(0.25n=12.50\)
\(n = 50\)
General Discussion
24 Nov 2018, 09:07
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Let p be the price of each stock. So total money spent = x*p to buy x shares initially.
New price is p + 0.25
So value now is x*(p+0.25)
Increase = 12.5 = x*(p+0.25) - x*p = x*0.25
which gives, x = 12.5/0.25 = 50
Option B
New price is p + 0.25
So value now is x*(p+0.25)
Increase = 12.5 = x*(p+0.25) - x*p = x*0.25
which gives, x = 12.5/0.25 = 50
Option B
