Michael purchased a certain number of shares of one stock fo

Michael purchased a certain number of shares of one stock for a total of 5308. The second stock was selling for 53 less per share. Michael could have bought 6 more shares of the second stock for the same amount of money. How many shares of the first stock did Michael purchase? How much did each share cost?

Solution

Let, cost of first share cost ,x

Second stock costed, x-3

So, nmber of shares of first stock bought =308/x

We are given

308/(x-3)=308/x+6

308x=308(x-3)+6x(x-3)

6x^2-18x-308*3=0

x^2-3x-154=0

x^2-14x+11x-154=0

x(x-14)+11(x-14)=0

x=-11,x=14

So, x=14

SO number of shares of first stock =308/14 =        22

Cost per share=x=14