Question

Of the shares of stock owned by a certain investor, 30 percent are shares of Company X stock and 1/7 of the remaining shares are shares of Company Y stock. How many shares of Company X stock does the investor own?

A) The investor owns 100 shares of Company Y stock.
B) The investor owns 200 more shares of Company X stock than of Company Y stock.

Answer 1

A) 300 shares

B) 300 shares

Step-by-step explanation:

Let the total shares owned be 'S'

Data provided in the question:

Shares of Company X stock = 30% of S = 0.3S

Shares of Company Y stock =
`(1)/(7)` of remaining stock

i.e
`(1)/(7)` of (S - 0.3S) =
`(1)/(7)` of 0.7S = 0.1S

Now,

A) The investor owns 100 shares of Company Y stock.

This mean

0.1S = 100

Therefore,

S = 1000 shares

Hence,

Shares of Company X stock = 0.3S = 0.3 × 1,000 = 300

B) The investor owns 200 more shares of Company X stock than of Company Y stock.

This means

0.3S = 200 + 0.1S

or

0.3S - 0.1S = 200

or

0.2S = 200

or

S = 1000 shares

Shares of Company X stock = 0.3S = 0.3 × 1,000 = 300