Norman and Suzanne own 32 shares of a fast food restaurant stock and 60 shares of a toy company stock. At the close of the markets on a particular day in 2004, their stock portfolio consisting of these two stocks was worth $1182.00. The closing price of the fast food restaurant stock was $24 more per share than the closing price of the toy company stock on that day. What was the closing price of each stock on that day?

Question

Mathematics

Isabella

25 August, 19:48

Norman and Suzanne own 32 shares of a fast food restaurant stock and 60 shares of a toy company stock. At the close of the markets on a particular day in 2004, their stock portfolio consisting of these two stocks was worth $1182.00. The closing price of the fast food restaurant stock was $24 more per share than the closing price of the toy company stock on that day. What was the closing price of each stock on that day?

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Answers (1)

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Karissa Moreno · Answer 1

38 (x+24) + 64x=1,779

38x+912+64x=1,779

102x=1,779-912

102x=867

x=867/102

x=8.50 ans. for the value of the toy company stock.

8.50+24=32.50 ans. for the value of the fast food stock.

Proof:

38*32.50+64*8.50=1,779

1,235+544=1,779

1,779=1,779