Question

Deeni bought 1000 units of stock at a price of RM 2.50 per unit. he sold all the shares at a price of rm 3.10 per unit. calculate the profit obtained

Answer 1

RM 600

Explanation:

1 unit -> bought for RM 2.50

sold for RM 3.10

Selling price is higher than buying price, hence a profit is made.

Profit (for 1 unit) = Selling price - Buying Price

= RM 3.10 - RM 2.50

= RM 0.60

Since Deeni bought 1000 units of stock,

Profit Obtained = 1000 x RM 0.60

= RM 600