Asked by jacob
Tony bought some stock for $504. If each share had cost $4 less he could have bought 3 more shares for the same $504. How many shares of stock did he buy
Answers
Answered by
bobpursley
L*Price=504
(L+3)*(Price-4)=504
LP-4L+3P-12-504=0
next L=504/P
504-4*504/P+3P-516=0
now combine terms, and multiply by P
-12P-2016 +3P^2=0
divide by 3, rearrange terms...
P^2-4P-672=0
(P-26)(P-22)=0
So the at the higher price (26), he bought L=504/26
(L+3)*(Price-4)=504
LP-4L+3P-12-504=0
next L=504/P
504-4*504/P+3P-516=0
now combine terms, and multiply by P
-12P-2016 +3P^2=0
divide by 3, rearrange terms...
P^2-4P-672=0
(P-26)(P-22)=0
So the at the higher price (26), he bought L=504/26
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.