Question

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 that stock at 35 1/2,which of the following would be true?
A. you suffered a loss of $75.00
B. you made a profit of $705.00
C. you made a profit of $75.00
D. you suffered a loss of $630.00

Answer 1

Hi there, we know the total number of stocks bough is 20, the rate was 31 1/2=63/2, 20*63/2=10*63=630 dollars, the rate they were sold is 35 1/4=141/4 dollars, 5*141=705 dollars, the amount of profit is 20 stocks. So, 705-630=75 dollars. So, the answer is C. You made a profit of $75.00

Answer 2

the answer will be c