Question

For a project in statistics class, a pair of students decided to invest in two companies, one that produces software and one that does biotechnology research. Andy purchased 65 shares in the software company and 43 shares in the biotech firm, which cost a total of $6,035. At the same time, Xavier invested a total of $4,415 in 11 shares in the software company and 43 shares in the biotech firm. How much did each share cost?

Each share in the software company cost $
, and each share in the biotech firm cost $
.

Answer 1

the cost of each share in the software company and cost of each share in the biotech firm is $30 and $95 respectively

Explanation:

The computation of the cost of each share in the software company and cost of each share in the biotech firm is as follows:

Let us assume the cost of each share in the software company be x

And, for biotech it would be y

Now

65x + 43y = $6,035 .......(i)

11x + 43y = $4,415 ......(ii)

Now subtract equation 2 from equation 1

54x = $1,620

x = $30

Now put the x value in any of the above equation

65($30) + 43y = $6,035

$1,950 + 43y = $6,035

43y = $6,035 - $1,950

43y = $4,085

y = $95

Hence, the cost of each share in the software company and cost of each share in the biotech firm is $30 and $95 respectively