# Shares of Stock

• Mar 26th 2009, 06:18 PM
magentarita
Shares 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, 01:56 AM
Quote:

Originally Posted by magentarita
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?

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\$

------------------------------
After a month
---------------------------
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\$

________________________________________________
Solve the two equations

x = 60 , y= 12
• Mar 27th 2009, 11:13 AM
magentarita
ok
Quote:

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\$

------------------------------
After a month
---------------------------
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\$

________________________________________________
Solve the two equations

x = 60 , y= 12