Question

Miguel paid a total of $12,000 for stock that was $8 per share. If he sold all his shares for $15,000, how much profit on each share did he make? a. $2 b. $8 c. $10 d. $12

Answer 1

A. $2

Explanation:

Just took the test. Sooo.... Yea.

Answer 2

If you would like to know how much profit on each share did he make, you can calculate this using the following steps:

$12,000 / $8 = 1,500 shares

$15,000 / 1,500 shares = $10 per share

x% of $8 is $10
x/100 * 8 = 10 /*100/8
x = 10 * 100 / 8
x = 125%

125% - 100% = 25%

Miguel made 25% ($2) profit on each share.