Prepping for Math exam and stumped... help, please?

[UnderTheMistletoe]

Reviewing for a Math exam tomorrow and stumbled across this in the textbook. I have no idea how to set it up. I am fine to solve it once I get it set up, I just can't get it there. Thanks so much!

Question:
Your portfolio manager has suggested the following two stocks for investment purposes: Beta Banking, Inc. and Gamma Co. Corp. Beta Banking stock costs $36 per share while Gamma Co. stock costs $45 per share. You have $6300 to invest and wish to hold twice as many Gamma Co. shares as Beta Baking shares. How many units of each should you buy? Define variables, set up equation(s), and solve.


Here's the first (simplest) problem in the section, just to give you an idea of what they're looking for by way of equations.

Paula purchases chocolate bars at $1.25 each and pecan nouget bars at 1.75 each. If she purchases a total of 19 bars for $30.25, how many pecan nouget bars did she purchase. Define variables, set up equation, and solve.

Let P= the number of pecan nouget bars
Let C= the number of chocolate bars

C + P = 19
1.25C + 1.75 P = 30.25

-1.25 (C + P = 19)

-1.25C - 1.25P= -23.75
1.25C + 1.75P= 30.25

.5P = 6.5

P = 13 nouget bars purchased

Thank you so much!

 

[Madaboutthemouse]

Try this...
B=Number of Beta Corp. shares
G=Number of Gamma Corp. shares
2B=G (since you want to hold twice as many Gamma shares)
36B+45G=6300 (Price of each type of share times number of each type of share = total cost)
36B+45(2B)=6300 (Substitution of the 2B=G equation)
36B+90B=6300
126B=6300
B=50 shares
G=100 shares

Hope this helps!

 

[momrek06]

Try this...
B=Number of Beta Corp. shares
G=Number of Gamma Corp. shares
2B=G (since you want to hold twice as many Gamma shares)
36B+45G=6300 (Price of each type of share times number of each type of share = total cost)
36B+45(2B)=6300 (Substitution of the 2B=G equation)
36B+90B=6300
126B=6300
B=50 shares
G=100 shares

Hope this helps!

YUP, My DH is a MATH GENIUS and an engineer by trade....and he just worked this out on paper and as I came to POST his answer, it was right here.
YUP, MAD: has the right answer....so there you GO!!!

 

[UnderTheMistletoe]

Thank you so much!

I see exactly what I was doing wrong. I kept substituting back into the wrong equation.

You're lifesavers! I have a feeling this is on the exam word for word....