ABC corporation has sold 30% of the stock to Company 'S'. Company 'T' owns 12,000 shares. Company 'R' owns all the shares not owned by any of these companies. How many shares of stock does Company 'S' own if Company 'R' has 15% more shares than Company 'S'?
- 10,140 shares
- 11,160 shares
- 94,860 shares
- 7,230 shares
Explanation
- Let total shares = T
- Company S owns 30% of T = 0.30T
- Company T owns 12,000 shares
- Company R owns the remaining shares: T - (S + T) = T - (0.30T + 12,000) = 0.70T - 12,000
- Given Company R has 15% more shares than Company S:
R = S + 15% of S = 1.15 × S
So,
0.70T - 12,000 = 1.15 × 0.30T
0.70T - 12,000 = 0.345T
0.70T - 0.345T = 12,000
0.355T = 12,000
T = 12,000 / 0.355 ≈ 33,802.82 shares (total shares)
Now, Company S owns:
S = 0.30 × 33,802.82 ≈ 10,140 shares
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