Question

If 8 people invest each in a stamp collection and after a year the collection is worth $3,800, how much did each person lose? show work​

Answer 1

This question is incomplete, the complete question is;

If 8 people invest $500 each in a stamp collection and after a year the collection is worth $3,800, how much did each person lose? show work​

Answer:

Each person lost $25

Step-by-step explanation:

Given the data in the question;

Number people that invested = 8

Amount each invested = $500

worth after a year the collection = $3,800

Now, the amount each person lost will be;

$Lost_{each-person$ = Total loss / total number of persons

$Lost_{each-person$ = [ ( 500 × 8 ) - 3800 ] / 8

$Lost_{each-person$ = [ 4000 - 3800 ] / 8

$Lost_{each-person$ = 200 / 8

$Lost_{each-person$ = 25

Therefore, each person lost $25