If 6 people invest $300 each in a stamp collection and after a year the collection is worth $1,620, how much did each person lose?
A) Each person lost $55.
B) Each person lost $1,320.
C) Each person lost $180.
D) Each person lost $90.
E) Each person lost $30.

Question

Quizplus · Accepted Answer

Each person initially invested $300. The total investment was $1,800 (6 people x $300). After a year, the collection is worth $1,620, resulting in a total loss of $180 ($1,800 - $1,620). Each person's share of the loss is $30 ($180 total loss / 6 people).

If 6 People Invest $300 Each in a Stamp Collection