Two years ago, Rob bought some shares of a stock and today those shares have a value of 1980 each the price when Rob bought the sock of two 3/4 of the current price per share Rob paid blank per share when he bought the two stock two years ago
Let x be the price Rob paid per share when he bought the stock two years ago.
The current price per share is 1980.
According to the given information, x = (3/4)*1980.
Simplifying the equation, we get x = (3/4)*(1980) = 1485.
Therefore, Rob paid $1485 per share when he bought the stock two years ago.
Let's break down the information given:
1. Two years ago, Rob bought some shares of a stock.
2. Today, the value of each share is 1980.
3. The price when Rob bought the stock was 2/3 of the current price per share.
To find the price per share when Rob bought the stock, we can follow these steps:
Step 1: Determine the current price per share
The current price per share is given as 1980.
Step 2: Compute the price when Rob bought the stock
Since the price when Rob bought the stock was 2/3 of the current price per share, we can calculate it by multiplying the current price per share by 2/3:
Price when Rob bought the stock = (2/3) * 1980 = 2 * 1980 / 3 = 3960 / 3 = 1320.
Therefore, Rob paid 1320 per share when he bought the shares two years ago.
To find the price per share that Rob paid when he bought the stock two years ago, we need to use the information given in the question.
Let's assume the current price per share is represented by "x".
According to the question, the current price per share is $1980. So, we have:
x = $1980
It is also mentioned that the price Rob paid for the stock two years ago was two 3/4 (or 2 * 3/4 = 6/4 = 3/2) of the current price per share.
So, the price per share Rob paid is:
(3/2) * x = (3/2) * $1980 = $2970
Therefore, Rob paid $2970 per share when he bought the stock two years ago.