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Nora bought 100 Shares of a technology stock and 200 shares of a mutual fund for $3500. Her sister, Erin, bought 300 shares of the technology stock and 50 shares if the same mutual fund for $5500. find the cost per share of the technology stock, and the cost per share of the mutual fund.

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Answer: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

Step-by-step explanation:

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