SOLUTION: Tony bought a number of shares of stock for $720. A month later the value of the stock increased by $8 per share, and he sold all but 20 shares and received $800. How many shares
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Question 188524This question is from textbook
: Tony bought a number of shares of stock for $720. A month later the value of the stock increased by $8 per share, and he sold all but 20 shares and received $800. How many shares did he sell and at what price per share?
thanks
This question is from textbook
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
Let x be the number of shares purchased. Let p be the price of each share at the time of the initial purchase. So:
and
The number of shares sold was x - 20 and the price at sale was p + 8, so:
(p + 8) = 800)
Multiply the binomials:
Make substitutions:
 - 160 = 800)
Simplify:
Multiply by 
Standard form:
This factors. Exclude the extraneous negative root.
John
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