Question

An investor bought 400 shares of stock, some at $7.00 per share and some at $1.00 per share. If the total cost was $1450.00, how many shares of each stock did the investor buy?

Answer 1

The investor bought 175 shares at $7.00 per share and 225 shares at $1.00 per share.

Step-by-step explanation:

To solve this problem, you can set up a system of equations. Let x be the number of shares bought at $7.00 per share and y be the number of shares bought at $1.00 per share.

From the information given, we know that:

1. x + y = 400 (equation 1)
2. 7x + y = 1450 (equation 2)

To solve the system of equations, you can use the substitution method or the elimination method.

Using the elimination method, multiply equation 1 by 7 to make the coefficients of x in both equations equal:

• 7(x + y) = 7(400)
• 7x + 7y = 2800 (equation 3)

Now, subtract equation 2 from equation 3 to eliminate x:

• (7x + 7y) - (7x + y) = 2800 - 1450
• 6y = 1350
• y = 225

Substitute the value of y into equation 1 to find x:

• x + 225 = 400
• x = 175

Therefore, the investor bought 175 shares at $7.00 per share and 225 shares at $1.00 per share.

Answer 2

57 at 7.oo dollars is 399 so he bought 1 more at 1 dollar