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Miguel paid a total of $12,000 for stock that was $8 per share. If he sold his shares for $15,000, how much profit on each share did he make?

Verified Answer :

The correct answer is:

$2 per share.

Explanation:

He paid $12000 total, at a rate of $8 per share. This means he bought 12000/8 = 1500 shares.

He sells these 1500 shares for $15000; this means he received 15000/1500 = $10 per share.

This means he made 10-8 = $2 profit per share.

Answer:

$2

Step-by-step explanation:

Cost of 1 share = $8

He bought Shares for amount $12,000

So, He bought number of shares = @@MATH_TOKEN_0@@

                                                       = @@MATH_TOKEN_1@@

Now he sold 1500 shares for amount $15000.

So, S.P. of 1 share = \(\frac{15000}{1500}\)

                              = \(10\)

So, S.P. of 1 share = $10

C.P. of 1 share = $8

So, profit = S.P. - C.P.

                = $10-$8

                =$2

Thus he made $2 as profit on each share.

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