SOLUTION: A person bought 40 shares in a company at 1500 each, and 6 months later he bought another 30 shares in the same company from another person at Rs.1300 each. at what price should b

Question 1044428: A person bought 40 shares in a company at 1500 each, and 6 months later he bought another 30 shares in the same company from another person at Rs.1300 each. at what price should be buy another 20 shares of the same company in order to have an average rate of Rs.1350 per share?

Answer by jorel555(1290) (Show Source): You can put this solution on YOUR website!
40x1500=60000
30x1300=39000
So far, the person has bought 70 shares for 99000.
(70+20)x1350=121500
121500-99000=22500
22500/20=Rs 1125 is the price necessary to average 1350 per share for 90 total shares. ☺☺☺☺
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