nora bought 100 shares of a technology stock and 200 shares of a mutual fund for $3800. Her sister Erin bought 300 shares of technology stock and 50 shares of the same mutual fund for $5350. Find the cost per share of the technology stock, and the cost per share of the mutual fund.
Suppose the cost stock is x and the cost of fund is y. Total cost of Nora's portfolio: 100x+200y=3800.....i Total cost of Erin's portfolio 300x+50y=5350...ii solving the simultaneous equation by elimination method we proceed as follows: multiplying eqn by 3 and subtracting ii we get: 550y=6050 thus y=6050/550 y=11 next, multiply ii by 4 and subtracting i we get: 1100x=17600 x=16 thus the cost of Technology stock was $16 and the cost of mutual fund was $11
