Question

Bill purchased 2,000 shares of stock for $22 per share. He sold them for $33. Express his capital gain to the nearest tenth of a percent.

Answer 1

50%

Step-by-step explanation:

capital gain is the difference between the selling price and the buying price

Purchase price = 2,000 x 22 =$44,000

Selling price =2,000 x 33 =$66,000

capital gain = $22,000

Gain as a percentage

= $22,000/44,000 x 100

=0.5 x 100

=50%