Question

Alan purchased 16 shares of company stock for $390.40. A month later, the total value of his shares fell to $291.20. What is the current price per share if each share costs the same?

Answer 1

To find the current price per share, divide the total current cost ($291.20) by the number of shares (16). The original price of $390.40 is thrown in for extra information.

= $291.20 ÷ 16 shares
= $18.20 per share


ANSWER: Each of the 16 shares currently cost $18.20 per share.

Hope this helps! :)

Answer 2

⇒Price of 16 share in the beginning of a Month = $ 390.40

Price per share in the beginning

`=(390.40)/(16)\\\\=24.40`$

⇒Price of the same number of share that is 16 after a Month= $ 291.20

Current price per share

`=(291.20)/(16)\\\\=18.20`$