Finding the price per share of two stocks

Question

Norman and Suzanne own 35 shares of fast food restaurant stock and 63 shares of a toy store company. At the close of the markets on a particular day in 2004, their stock portfolio consisting of these two stocks was worth $1148.00. The closing price of the fast food restaurant stock was $23 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?

Answer 1

Let x = price per share of toy company

Let (x + 23) = price per share of fast food restaurant

 

63 shares for toy and 35 shares for fast food will have a total of $1148.00.

 

x*63 + (x+23)*35 = 1148

 

63x + 35x + 805 = 1148

 

98x = 343

 

x = $3.5 per share of toy company

 

x + 23 = $26.5 per share of fast food restaurant