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, which of the following would be true?

A. You made a profit of $705.00.
B. You made a profit of $75.00.
C. You suffered a loss of $75.00.
D. You suffered a loss of $630.00.

Answer 1

Profit = 20(35 1/4 - 31 1/2) = 20(3 3/4) = 75

Correct answer is:
B. You made a profit of $75.00.