Question

After several shares of the company's stock were sold, a profit of $1,320 was earned. The profit was 15% over a 30 day period. How much were the shares worth when they were originally purchased?

Answer 1

That's it... Just sum it ul

Answer 2

The shares were worth $8800, when they were originally purchased.

Explanation:

After several shares of the company's stock were sold, a profit of $1,320 was earned.

The profit was 15% over a 30 day period.

Let the original price of the shares be = x

As there was a profit of 15% on x.

We get the following expression;

`0.15x=1320`

Then x = 8800

Hence, the shares were worth $8800, when they were originally purchased.