Respuesta :
Given:
The cost of 50 shares of GHX and 19 shares of SPS is $121.99.
Fifty shares of GHX cost a penny more than the nineteen shares of SPS.
The objective is to find the share price of each stock.
Explanation:
Consider the shares of GHX as x and shares of SPS as y.
Then, the equation of total cost can be written as,
[tex]50x+19y=121.99\text{ . . . . . (1)}[/tex]Since 50 shares of x cost a penny more than 19 shares of y then the equation can be written as,
[tex]\begin{gathered} 50x-19y=1\text{ penny} \\ 50x-19y=0.01\text{ dollar . . . . .(2)} \end{gathered}[/tex]To find x :
On adding equation (1) and equation (2),
[tex]\begin{gathered} (50x+19y)+(50x-19y)=121.99+0.01 \\ 100x=122 \\ x=\frac{122}{100} \\ x=1.22 \end{gathered}[/tex]To find y :
Now, substitute the value of x in equation (1).
[tex]\begin{gathered} 50(1.22)+19y=121.99 \\ 61+19y=121.99 \\ 19y=121.99-61 \\ y=\frac{60.99}{19} \\ y=3.21 \end{gathered}[/tex]Hence, the price of GHS stock is $1.22, and the price of SPS stock is $3.21.
