Tony bought a number of shares of stock for $720. A month later the value of the stock increased by $8 per share, and he sold all but 20 shares and received $800. How many shares did he sell and at what price per share?

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- Mar 26th 2009, 07:18 PMmagentaritaShares of Stock
Tony bought a number of shares of stock for $720. A month later the value of the stock increased by $8 per share, and he sold all but 20 shares and received $800. How many shares did he sell and at what price per share?

- Mar 27th 2009, 02:56 AMADARSH
**Lets say he had x shares**

And the price of each share = y

Total value for all stocks = 720$ = xy

Thus our first equation is

xy= 720$

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After a month

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No. shares sold =x-20

rice of each share = y+ 8

Amount he received =(x-20)(y+8) = 800$

Thus our second equation is

**(x-20)(y+8) = 800$**

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Solve the two equations

x = 60 , y= 12

- Mar 27th 2009, 12:13 PMmagentaritaok