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GRE Prep Club Team Member
Joined: 20 Feb 2017
Posts: 2506
Given Kudos: 1055
GPA: 3.39
An investor purchased 20 shares of certain stock at price of $45.75 pe
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23 Dec 2022, 09:13
23 Dec 2022, 09:13
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An investor purchased 20 shares of certain stock at price of $45.75 per share. Later this investor purchased 30 more shares at price of $46.25 per share. What was the average price per share that this investor paid for the 50 shares?
1. 45.80
2. 45.95
3. 46.00
4. 46.05
5. 46.20
1. 45.80
2. 45.95
3. 46.00
4. 46.05
5. 46.20
Re: An investor purchased 20 shares of certain stock at price of $45.75 pe
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27 Dec 2022, 01:18
27 Dec 2022, 01:18
1
Expert Reply
Given:
An investor purchased 20 shares of a certain stock at a price of $45.75 per share.
Total money paid for 20 shares = $45.75*20 = $915
Later this investor purchased 30 more shares at a price of $46.25 per share
Total money paid for 30 shares = $46.25*30 = $1387.5
Total money paid for 50 shares = $915 + $1387.5 = $2302.5
The average price per share that this investor paid for the 50 shares = $2302.5/50 = $46.05
The correct answer is D
An investor purchased 20 shares of a certain stock at a price of $45.75 per share.
Total money paid for 20 shares = $45.75*20 = $915
Later this investor purchased 30 more shares at a price of $46.25 per share
Total money paid for 30 shares = $46.25*30 = $1387.5
Total money paid for 50 shares = $915 + $1387.5 = $2302.5
The average price per share that this investor paid for the 50 shares = $2302.5/50 = $46.05
The correct answer is D
gmatclubot
Re: An investor purchased 20 shares of certain stock at price of $45.75 pe [#permalink]
27 Dec 2022, 01:18
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