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A share of stock in the Bree Medical Supply Company is quoted at 351

/4

. Suppose you hold 20 shares

of that stock, which you bought at 311

/2

. If you sold your stock at 351

/4

, which of the following would be

true?

AYou made a profit of $705.00.
BYou suffered a loss of $75.00.
CYou made a profit of $75.00.
DYou suffered a loss of $630.00.

Verified Answer :

Total number of stocks bought = 20
Rate at which each stocks were bought = 31 1/2
                                                             = 63/2
Rate at which 20 stocks were bought = 20 (63/2) dollars
                                                             = 10 63 dollars
                                                             = 630 dollars
Rate at which each stocks were sold = 35 1/4
                                                             = 141/4 dollars
Rate at which 20 stocks were sold = 20 (141/4) dollars
                                                         = 5 141 dollars
                                                         = 705 dollars

705- 630====== 75 C you made a profit of $75.00


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