Question

An investor bought 700 shares of stock, some at $2.25 per share and some at $2.75 per share. If the total cost was $1825.00, how many shares of each stock did the investor buy? (Round to two decimal places if necessary.)

Answer 1

The shares of $2.25 are 200 and the shares of $2.75 are 700.

According to the question,

We have the following information:

An investor bought 700 shares of stock, some at $2.25 per share and some at $2.75 per share. And the total cost was $1825.00.

Now, let's take the shares of $2.25 to be x and the shares of $2.75 to be y.

So, we have the following expression:

x+y = 700

x = 700-y ....(1)

2.25x+2.75y = 1825 ...(2)

Putting the value of x from equation 1:

2.25(700-y)+2.75y = 1825

1575-2.25y+2.75y = 1825

1575+0.5y = 1825

0.5y = 250

y = 250/0.5

y = 500

Now, putting the value of y in equation 1:

x = 700-y

x = 700-500

x = 200

Hence, the shares of $2.25 are 200 and the shares of $2.75 are 700.

To know more about shares here

brainly.com/question/21781662

#SPJ1