Five friends invest a total of £18 500 in shares of a company.After two years, the value of the shares has decreased by 13%. The friends sell their shares in the company, and each person takes an equal portion of the money.Work out how much money each person gets.
Question
Five friends invest a total of £18 500 in shares of a company.After two years, the value of the shares has decreased by 13%. The friends sell their shares in the company, and each person takes an equal portion of the money.Work out how much money each person gets.
Solution
Step 1: Calculate the decrease in the value of the shares
The shares have decreased by 13% in value. To calculate the decrease in value, multiply the original value of the shares by the percentage decrease.
£18,500 * 13% = £2,405
Step 2: Calculate the final value of the shares
Subtract the decrease in value from the original value to find the final value of the shares.
£18,500 - £2,405 = £16,095
Step 3: Divide the final value of the shares among the friends
There are 5 friends, so divide the final value of the shares by 5 to find out how much each person gets.
£16,095 / 5 = £3,219
So, each person gets £3,219.
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