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kykilla kykilla
  • 28-08-2016
  • Mathematics
Answered

A share of stock in the Bree Medical Supply Company is quoted at 35 1/4 . Suppose you hold 20 shares of that stock, which you bought at 31 1/2. If you sold your stock at 35 1/4, which of the following would be true?

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

Verified Answer :

nobillionaireNobley
nobillionaireNobley nobillionaireNobley
  • 28-08-2016

Profit = 20(35 1/4 - 31 1/2) = 20(3 3/4) = 75

Correct answer is:
B. You made a profit of $75.00.

Answer Link

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