Question

Mr Jones buys 100 units of the Unit trust of Texas at $10.30 per Unit. He purchases another lot of 200 at $10.40 per unit. At $10.50 per unit, he takes up another lot of 400 and a further lot of 300 at $10.80 per Unit. He watches as the price goes down and desires to take up as many units at $10.25 per unit as would make the average cost of his holding to $10.50 per unit. Assuming that Mr Jones always buys units in multiples of 100. Find the number of units he purchases at the lowest price of $10.25 per unit.

Answer 1

Answer:

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