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GRE Math Challenge #20 - If $4500 was invested in a bond fun
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09 Sep 2014, 03:20
09 Sep 2014, 03:20
Expert Reply
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Question Stats:
100% (00:41) correct
0% (00:00) wrong based on 4 sessions
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If $4500 was invested in a bond fund when the price per share was $9 and $3000 was invested in the fund when the price per share was $10,what was the average (arithmaetic mean) price per share purchased?
Show: :: Answer
9.38
Re: GRE Math Challenge #20
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25 Aug 2015, 10:59
25 Aug 2015, 10:59
1
Expert Reply
rajib12 wrote:
Can you explain please?
4500 @ 9 =500
3000 @ 10 = 300
Total of 800 units (500 +300) for a total investment of 7500 (3000 +4500)
So average price is 9.375.
