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Tom, Dick and Harry own shares in their company in the ratio 3:5:7. If the total value of the shares is $10,500. What value of shares would Harry need to give Tom for all three to own the shares equally?
Answer: C
Explanation: The stock is owned in the ratio 3:5:7 and the total value is $10,500.
To work out the value of their holdings add 3+5+7 = 15.
Divide $10,500 by 15 = $700. You can then calculate that
Tom owns $12,000 (3 * $2,100)
Dick owns $15,000 (5 * $3,500)
Harry owns $18,000 (7 * $4,900)
Therefore Harry would need to give Tom $1,400 worth of stock for all three to own
$15,000 worth.
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