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) About Me  (Show Source):
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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:



Multiply the binomials:



Make substitutions:



Simplify:



Multiply by



Standard form:



This factors. Exclude the extraneous negative root.

John