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An investor bought n shares of Company X stock at $75 per sh
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Updated on: 15 Sep 2022, 03:53
Updated on: 15 Sep 2022, 03:53
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Question Stats:
70% (01:55) correct
30% (03:09) wrong based on 10 sessions
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An investor bought n shares of Company X stock at $75 per share. She sold 60 percent of the shares for $120 per share and the rest at a later date for $70 per share. If her gross profit on the sale of the n shares of stock was $7,500, how many shares did she buy?
(A) 375
(B) 300
(C) 100
(D) 95
(E) 75
(A) 375
(B) 300
(C) 100
(D) 95
(E) 75
Re: An investor bought n shares of Company X stock at $75 per sh
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06 Feb 2020, 22:48
06 Feb 2020, 22:48
2
Asif123 wrote:
An investor bought n shares of Company X stock at $75 per share. She sold 60 percent of the shares for $120 per share and the rest at a later date for $70 per share. If her gross profit on the sale of the n shares of stock was $7,500, how many shares did she buy?
(A) 375 (B) 300 (C) 100 (D) 95 (E) 75
(A) 375 (B) 300 (C) 100 (D) 95 (E) 75
Assuming n is the number of shares we can write that the gross sale proceeds are the following:
0.6n*120 + 0.4n*70
Since the gross profit is equal to $7,500 then investor get that $7,500 on top of the originally invested 75n dollars. We get our equation:
0.6n*120 + 0.4n*70 = 7,500 + 75n
25n = 7,500
n= 300
Re: An investor bought n shares of Company X stock at $75 per sh
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15 Sep 2022, 02:50
15 Sep 2022, 02:50
Carcass, the format of this question is not in line with Greprepclub rules and regulations .
