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 your stock at 35 1/4 how much profit would you make?

Answer 1

The profit is 75

Explanation:

The price at which the shares were bought is:

`31 (1)/(2)=31+(1)/(2) = 31.5`

The price at which it will sell the shares is:

`35 (1)/(4)=35+(1)/(4) = 35.25`

The number of shares that will be sold is:

`n=20`

So the profit is:

`Profit = n(35.25 - 31.5)\\\\Profit=20(3.75)\\\\Profit=75`