CEMC Euclid, 1998

Algebra Difficulty 3.0 AMC 10/12 Prove it Canada

Jane bought 100 shares of stock at $10.00 per share. When the shares increased to a value of $N each, she made a charitable donation of all the shares to the Euclid Foundation. She received a tax refund of 60% on the total value of her donation. However, she had to pay a tax of 20% on the increase in the value of the stock. Determine the value of $N$ if the difference between her tax refund and the tax paid was $1000.

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