urgent please

Question

Ronald, an investment banker, sold his shares for $18,568.50 when there was a boom in the stock market. calculate the amount he paid for the shares if his selling price was 180.65% of the amount paid for the shares

Answer 1

When solving word (story problems), try to assign a variable for the answer to the question ("determine the price ... originally paid") so that you won't forget to adjust any value you might get.

 

Let P = price Ronald paid

 

  "selling price was 180.65% of the amount paid"    means  selling price = 1.8065*P     ("of" means multiply)

  "sold his shares for $18,568.50"  means    selling price = $18,568.50

 

Now, the math is easy:

        1.8065*P = 18568.50

                P = $10278.72

Answer 2

Hi Kayla,

 

You can also answer this question using a proportion.  If 18,568.50 = 180.65%, you need to find what amount = 100% in order to determine the price Ronald originally paid for the shares.

 

You can do this by using the following:

 

180.65                 18,568.50

----------     =      --------------

100                            x

 

Cross multiply, so that 180.65 times x = 18,568.50 times 100, so you have

 

180.65 times x = 1856850

 

Now divide both sides by 180.65 to solve for x.

 

x = $10278.72