Question

Raul paid $6,450 for shares of Nike. He sold it for $9,100. Express his capital gain as a percent of the original purchase price.

Answer 1

41.09%

Explanation:

step 1

Find the capital gain

$9,100-$6,450=$2,650

step 2

Express his capital gain as a percent of the original purchase price

we know that

$6,450 ( original purchase price) -----> represent 100%

so by proportion

100%/6,450=x/2,650

x=2,650*100/6,450

x=41.09%