A group of 20 friends formed an investment club, with each member contributing an equal amount to the general fund, which amounted to d dollars, in Stock X. The value of the stock subsequently increased 40 percent, at which point the stock was sold and the proceeds divided evenly amoung the members. In terms of d, how much money did each member of the club receive from the sale?
(A) 800d
(B) 7d/5
(C) d/20+40
(D) d/2
(E) 7d/100
OA is e
Can anyone help me out here with this question? i will gladly appcreciate
thank you
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Say d = $100.Roland2rule wrote:A group of 20 friends formed an investment club, with each member contributing an equal amount to the general fund, which amounted to d dollars, in Stock X. The value of the stock subsequently increased 40 percent, at which point the stock was sold and the proceeds divided evenly amoung the members. In terms of d, how much money did each member of the club receive from the sale?
(A) 800d
(B) 7d/5
(C) d/20+40
(D) d/2
(E) 7d/100
OA is e
Can anyone help me out here with this question? i will gladly appcreciate
thank you
After increasing by 40% the value of the investment = 100 + 40 = 140.
Each of 20 friends will receive 140/20 = $7.
Now plug 100 in for d and see what gives us 7. Only E works.
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Jeff@TargetTestPrep
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After the stock increased by 40%, the new value was 1.4d.Roland2rule wrote:A group of 20 friends formed an investment club, with each member contributing an equal amount to the general fund, which amounted to d dollars, in Stock X. The value of the stock subsequently increased 40 percent, at which point the stock was sold and the proceeds divided evenly amoung the members. In terms of d, how much money did each member of the club receive from the sale?
(A) 800d
(B) 7d/5
(C) d/20+40
(D) d/2
(E) 7d/100
Thus, each of the 20 members received 1.4d/20 = 14d/200 = 7d/100.
Answer: E
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