SOLUTION: A man purchased some shares of stock for $1560. Later, when the price had gone up $24/share, he sold all but ten of them for $1520. how many shares had he bought? This is a word

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: A man purchased some shares of stock for $1560. Later, when the price had gone up $24/share, he sold all but ten of them for $1520. how many shares had he bought? This is a word      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


   



Question 936641: A man purchased some shares of stock for $1560. Later, when the price had gone up $24/share, he sold all but ten of them for $1520. how many shares had he bought?
This is a word problem in a certain chapter in our book which deals all about Quadratic Equations. I hope you could help me out. Thanks.

Answer by josgarithmetic(39617) About Me  (Show Source):
You can put this solution on YOUR website!
bought x shares of stock for 1560 dollars.

Price went up to %281560%2Fx%2B24%29%28dollars%2Fshare%29.

At that increased price, he sold x-10 of his shares.

He received 1520 dollars for selling x-10 shares at that price.
highlight_green%28%281560%2Fx%2B24%29%2A%28x-10%29=1520%29
and the objective is for you to understand this equation and how it was developed. When you understand that, then you can solve it.