Sam has already biked 1/4 of all the distance and 12 miles, and he still needs to bike 3/8 of the total distance and 9 miles. Wh
1 answer:
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Option C: 600 shares worth $16.67 each is the correct answer
Step-by-step explanation:
In the share market, a 2 to 3 split(mentioned in the question) means that the share holders get one half of already owned shares and the price of each share declines by one-third.
Given
Jim's shares = s = 400
Price per share =p = $25
First of all we will calculate the new shares:
Let sn be the number of new shares
As explained above
Now the news price will be:
The new number of shares will be 600 and the price of each share will be: $16.67
Hence,
Option C: 600 shares worth $16.67 each is the correct answer
Keywords: Shares, 2-to-3 split
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