SOLUTION: bob sold some stock at $32 per share. This was $16 a share less than 8 times what he paid for it. What price did he pay for each share of the stock?

SOLUTION: bob sold some stock at $32 per share. This was $16 a share less than 8 times what he paid for it. What price did he pay for each share of the stock?

Algebra.Com

Question 375649: bob sold some stock at $32 per share. This was $16 a share less than 8 times what he paid for it. What price did he pay for each share of the stock?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
8x-16=32
8x=48
x=$6
RELATED QUESTIONS
1. Jonas bought 200 share of a stock for $36/625 per share, and had to pay a commission... (answered by Boreal,ikleyn)

Tony bought a number of shares of stock for $720. A month later the value of the stock... (answered by solver91311)

Tom sold a camera for $85.00. This was $30 more than half the amount he paid for it. What (answered by Boreal)

A speculator sold some shares of stock for $2880. Several days later, the stock having... (answered by Theo)

A speculator sold some shares of stock worth $2880. Several days later, the stock having... (answered by ikleyn,MathTherapy,josgarithmetic)

Mary Kim invested $964 in 18 shares of stock. A month later, she sold the 18 shares at... (answered by ewatrrr)

Please help me solve this problem. An investor bought 150 shares of Fly-Hi Airlines... (answered by mananth)

Bob bought a goat. He expected to sell it at a price that would give him a 10% profit on (answered by Earlsdon)

Mrs. Jones bought stock valued at $90 a share and sold it for $120. What was the percent... (answered by dcharlequin)