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Salsk061 [2.6K]
3 years ago
5

Allen bought 1,350 shares of stock for $12 per share. If he sold all his shares for $27,000, how much profit on each share did h

e make?
English
2 answers:
olga55 [171]3 years ago
8 0
The answer is $10,800. Just multiply 1,350 by 12 then subtract the answer from $27,000.
alexdok [17]3 years ago
7 0
Total number of shares bought by Allen = 1350
Cost of each share bought by Allen = $12
Then
The total cost of buying the 1350 shares that Allen had to pay = (1350 * 12) dollars
                                                                                                   = 16200 dollars
The amount at which the shares were sold by Allen = $27000
Amount of profit made by Allen by selling 1350 shares = (27000 - 16200) dollars
                                                  = 10800 dollars
Amount of profit made by Allen on each share = 10800/1350 dollars
                                                                           = 8 dollars
So the amount of profit made by allen on each share is $8.
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