Question

Samantha, Nyla, and Jerry own shares of stock in the Triumph Hotels company. The shares of stock that they own have a combined value of $6,880. Samantha owns 70 shares, Nyla owns 50 shares, and Jerry owns 40 shares. What is the value of the shares Samantha owns?

Answer 1

The value of the shares Samantha owns is $3,010

Explanation:

Step 1

We add all the shares together and find out the cost of each share per dollar

Samantha owns 70 shares, Nyla owns 50 shares, and Jerry owns 40 shares.

Total amount of shares = (70 + 50 + 40) shares

= 160 shares

Step 2

The cost of share per dollar =

Values of shares/ Total number of shares

= $6,880/160 shares

= $43

1 share = $43

Step 3

The value of the shares Samantha owns is calculated as:

Number of shares Samantha owns × cost of share per dollar

Samantha owns 70 shares

Hence:

= 70 × $43

= $3010

The value of the shares Samantha owns is $3,010