SOLUTION: A group of fisherman charted a boat for 300 dollar. Two members of the group were unable to go o the trip and as a consequence, each of the others had pay 12.50 dollars more.How ma

Question 849395: A group of fisherman charted a boat for 300 dollar. Two members of the group were unable to go o the trip and as a consequence, each of the others had pay 12.50 dollars more.How many shares did he sell?

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A group of fisherman charted a boat for 300 dollar. Two members of the group were unable to go o the trip and as a consequence, each of the others had pay 12.50 dollars more.How many shares did he sell?
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Let original # of sharer's be "x":
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Original share price = 300/x dollars
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New share price = 300/(x-2) dollars
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Equation:
300/x - 300/(x-2) = 12.50
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300(x-2) - 300x = 12.5x(x-2)
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12.5x^2 - 25x + 600 = 0
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x^2 - 2x + 48 = 0
(x-8)(x+6) = 0
Positive solution:
x = 8 (original # of shares)
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Cheers,
Stan H.
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