Solve the problem.

-Matthew has two different stocks. One of the stocks is worth twice as much per share as the other. He has 14 shares of the more valuable stock and 31 shares of the other stock. His total assets in
Stocks is $1829. How much is the more expensive stock worth per share?
A) $66 per share
B) $60 per share
C) $62 per share
D) $68 per share

Question

Solve the problem.

-Matthew has two different stocks. One of the stocks is worth twice as much per share as the other. He has 14 shares of the more valuable stock and 31 shares of the other stock. His total assets in
Stocks is $1829. How much is the more expensive stock worth per share?
A) $66 per share
B) $60 per share
C) $62 per share
D) $68 per share

Quizplus · Accepted Answer

Let's say the cheaper stock is worth $x per share. Then, the more expensive stock must be worth $2x per share.

Matthew has 31 shares of the cheaper stock, so the total value of those shares is 31x.

Matthew has 14 shares of the more expensive stock, so the total value of those shares is 14 * 2x = 28x.

The total value of all of his stocks is $1829. So:

31x + 28x = 1829
59x = 1829
x ≈ 31

So, the cheaper stock is worth about $31 per share. Therefore, the more expensive stock is worth about $62 per share, which is choice C.

Solve the Problem. -Matthew Has Two Different Stocks. One of the Stocks Is