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i) Baraka bought ksh.20,000 worth of shares of a company each month. During the first three months, he bought the shares at a price of ksh.120, ksh.160 and ksh.210.Compute the average price paid by him for the shares after 3 months​

Answer :

adioabiola

The average price paid by him for the shares after 3 months is ksh. 163.33

Average

  • Total value of shares bought = ksh.20,000

  • Amount of shares bought in the first three months = ksh.120, ksh.160 and ksh.210

Average price paid for the shares after 3 months

= (120 + 160 + 210) / 3

= 490 / 3

= 163.333333333333

Approximately,

ksh. 163.33

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