Question
A stockholders meeting, 4.5 million shares were voted in favor of proposal for a mandatory retirement age for the members of the board directors. If this represented 75% of the number of shares outstanding, how many shares were outstanding?
Answers
GPT-4o mini
To find the total number of shares outstanding, we can set up the equation where 4.5 million shares represent 75% of the total shares outstanding.
Let \( x \) be the total number of shares outstanding. The relationship can be expressed as:
\[
0.75x = 4,500,000
\]
To find \( x \), divide both sides of the equation by 0.75:
\[
x = \frac{4,500,000}{0.75}
\]
Calculating that gives:
\[
x = 6,000,000
\]
Therefore, the total number of shares outstanding is **6 million shares**.
Let \( x \) be the total number of shares outstanding. The relationship can be expressed as:
\[
0.75x = 4,500,000
\]
To find \( x \), divide both sides of the equation by 0.75:
\[
x = \frac{4,500,000}{0.75}
\]
Calculating that gives:
\[
x = 6,000,000
\]
Therefore, the total number of shares outstanding is **6 million shares**.