SOLUTION: Norman and Susy own 41 shares of restaurant stock and 69 shares of a toy company stock. At the close of the markets on a particular day in 2004, their stock portfolio consisting of
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Question 1173517: Norman and Susy own 41 shares of restaurant stock and 69 shares of a toy company stock. At the close of the markets on a particular day in 2004, their stock portfolio consisting of these two stocks was worth $1755.00. The closing price of the restaurant stock was $20 more per share than the toy company stock on that day. What was the closing price of each stock on that day? Answer by ikleyn(52767) (Show Source):
Let t be the price per share of the toy company.
Then the price per share of the restaurant stock is (t+20).
An equation for the total stocks is
69t + 41*(t+20) = 1755
From this equation
110t = 1755 - 41*20
110t = 935
t = 935/110 = 8.5
ANSWER. The toy company stock was $8.50 per share; the restaurant stock was $28.50 per share.