Question

An investor bought 600 shares of stock, some at $5.00 per share and some at $4.75 per share. If the total cost was $2912.50, how many shares of each stock did the investor buy? (Round to two decimal places if necessary.)

Answer 1

Let x= $4.75 shares 600-x- $5.00 shares 4.75x + 5 (600-x)= 2912.50 distribute and remove ( ) 4.75x +3000-5x= 2912.50 combine like terms -,25x + 3000= 2912.50 subtract 3000 from both sides -.25x= -87.5 divide by -.25 x=350 shares @ $4.75 600-350= 250 shares @ $5,00 hope this helps