Question

1. Barry Kato owned 400 shares of stock in a car company. He paida total of $11,580.00 for the stock. He sold the stock for $29.50 pershare and paid a commission of 1% of the selling price.a. What was the amount of the sale?b. What was the net sale?c. What was the profit or loss?

Answer 1

Given:

Number of Shares =400

Total paid=$11580

Sold stock=$29.50/share

commission=1%

Find:

a. What was the amount of the sale?

b. What was the net sale?

c. What was the profit or loss?

Step-by-step explanation:

a) Amount of the sale=29.50 * 400=$11800.

commission=

`(1)/(100)*1180=118`

b)Net sale = Amount of sale - commission

= 11800- 118 =$11682

c)Profit = Net sale - Total paid

= 11682 - 11580

= 102