Norman and Suzanne own 38 shares of a fast food restaurant stock and 74 shares o

Question

Norman and Suzanne own 38 shares of a fast food restaurant stock and 74 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 $1528.00. The closing price of the fast food restaurant stock was $24 more per share than the closing price of the toy company stock on that day. What was the closing price of each stock on that day?

What is the price per share of the fast food restaurant stock?

What is price per share of the toy company stock?

Explanation / Answer

Let the fast food stock price is F and toy stock price was T

so

38F + 74T = 1528

F - T = 24

solve both the equation (Multiply equation 2 by 74 and add into equation 1)

38F + 74T + 74F - 74T = 1528 + 24*74

F = 59/2 = 29.5

T = 11/2 = 5.5

price per share of the fast food restaurant stock = 29.5

price per share of the toy company stock = 5.5

please upvote the answer.

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