Question

An investor bought 400 shares of stock, some at $2.75 per share and some at $3.50 per share. If the total cost was $1250.00, how many shares of each stock did the

investor buy? (Round to two decimal places if necessary)

Answer 1

200 shares of stock costing $2.75/share; 200 shares of stock costing $3.50/share

Explanation:

We will need to create a system of equations to find the total number of shares the investor bought.

Letting A represent the $2.75 shares and B represent the $3.50 shares, we can use the equations:

`A+B = 400\\2.75A+3.50B=1250`

We can use substitution to solve:

`A+B=400\\2.75A+3.50B=1250\\\\A=-B+400\\\\2.75(-B+400)+3.50B=1250\\-2.75B+1100+3.50B=1250\\0.75B+1100=1250\\0.75B=150\\B=200\\\\A=-200+400\\A=200`