Total amount Invested = 52,500
Since both stocks cost 50, total number of share he purchased = 52,500/50 = 1,050 shares
Total number of shares = 1,050
Let x be the total number of Ed shares. Therefore Ngg shares = 1050-x
Ed Stock dividend return = x*0.05*50
Ngg stock dividend return = (1050-x)*0.06*50
Since total was 2,815, we add and equate the two as shown below:
x*0.05*50 + (1050-x)*0.06*50 = 2815
2.5x + 3150 -3x = 2815
0.5x = 335
x 335/0.5
x = 670 shares
Ed stock = 670 shares
Ngg stock =1050-670 = 380 shares
So, you purchased 670 shares of consolidated edison (ed) stock and 380 shares of national grid (ngg) stock
