SOLUTION: Jessica purchased x shares of stock at $32 per share. She sold all the stock for $56 per share and made a profit of $552. How many shares did Jessica purchase?

Algebra ->  Proportions -> SOLUTION: Jessica purchased x shares of stock at $32 per share. She sold all the stock for $56 per share and made a profit of $552. How many shares did Jessica purchase?      Log On


   

Question 518980: Jessica purchased x shares of stock at $32 per share. She sold all the stock for $56 per share and made a profit of $552. How many shares did Jessica purchase?
Answer by jessica43(140) About Me  (Show Source):
You can put this solution on YOUR website!
First you know that Jessica bought the stock for $32 per share: 32x = y (where y is the total amount she paid for the stock).
Next you know that she sold the stock (same amount) for $56 per share: 56x = z (where z is the total amount she made from the sale).
Finally you know that she made a profit of $552, so the difference between what she sold it for and what she paid for it should be 552: z - y = 552
Now plug the first two equations into the third and solve for x:
z - y = 552
56x - 32x = 552
24x = 552
x = 23
So she bought 23 shares of stock.