Math Problem Statement
Joyce mother buys some shares of Company A on Day 0. On Day 7, the share price of Company A is $4.60. If she sells all her shares of Company A and buys 2000 shares at Company B on Day 7, she would receive $7400. On Day 12, the share price of Company A is $4.80 and the share price of Company B is $0.50 less than that on Day 7. If she sells all her shares of Company A and buys 5000 shares on Company B on Day 12, She would have to pay $5800. Find (i) the number of shares of Company A Joyce mother has, (ii) the share price of Company B on Day 12
Solution
Let's break down the problem step by step.
Given:
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On Day 7:
- The share price of Company A is $4.60.
- Joyce's mother sells all her shares of Company A and buys 2000 shares of Company B.
- She receives $7400 after buying the shares of Company B.
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On Day 12:
- The share price of Company A is $4.80.
- The share price of Company B is $0.50 less than that on Day 7.
- She sells all her shares of Company A and buys 5000 shares of Company B.
- She has to pay $5800.
We need to find:
- The number of shares of Company A Joyce's mother has on Day 7.
- The share price of Company B on Day 12.
Step 1: Find the Share Price of Company B on Day 7
Let the share price of Company B on Day 7 be .
When she buys 2000 shares of Company B on Day 7, she uses the money obtained from selling her shares of Company A. So:
Step 2:
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Math Problem Analysis
Mathematical Concepts
Financial Mathematics
Equations
Investment Analysis
Formulas
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Theorems
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Suitable Grade Level
High School
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