Question

Quinton bought n number of shares for d dollars and paid a 1% commission. He sold the stock for y dollars and paid a flat fee of

Answer 1

Answer:

y - (1.01nd + 7)

Step-by-step explanation:

Quinton bought n number of shares for d dollars and paid a 1% commission. It means he bought $\dfrac{1}{100}nd=0.01nd$

He sold the stock for y dollars and paid a flat fee of  $7. It means he sold y-7.

We need to find Quinton's net proceeds algebraically. It will be given as :

$y-7-0.01nd\\\\=y-(0.01nd+7)$

Hence, the correct option is (d) i.e. y - (1.01nd + 7)