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Dividends Problem

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by oks » Sun May 17, 2009 1:50 pm
18. Last year Mrs. Long received $160 in dividends on her shares of Company X stock, all of which she had held for the entire year. If she had had 12 more shares of the stock last year, she would have received $15 more in total annual dividends. How many shares of the stock did she have last year?
(A) 128
(B) 140
(C) 172
(D) 175
(E) 200


What's the quick way to solve this?

Thanks!!

OA: A
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Re: Dividends Problem

by dtweah » Sun May 17, 2009 4:43 pm
oks wrote:18. Last year Mrs. Long received $160 in dividends on her shares of Company X stock, all of which she had held for the entire year. If she had had 12 more shares of the stock last year, she would have received $15 more in total annual dividends. How many shares of the stock did she have last year?
(A) 128
(B) 140
(C) 172
(D) 175
(E) 200


What's the quick way to solve this?

Thanks!!

OA: A
Let P be the value of dividend per share

PS=160. Problem says

P(S+12)=185

PS +12P=185
160+12P=185

P=5/4

S=4/5 x 160

128
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by dmateer25 » Sun May 17, 2009 5:53 pm
12 shares earned $15 in dividends. So the dividends a share = 15/12

Let x = shares of stock last year

(15/12)(x)=160
15x = 1920
x = 128
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