Question

1. Randy paid $3,450 for shares of a corporation that manufactured cell phones. He sold it for

$6,100. Express his capital gain as a percent of the original purchase price. Round to the
nearest tenth of a percent.

Answer 1

To calculate Randy's capital gain as a percent, subtract the purchase price from the selling price, divide the gain by the purchase price, multiply by 100, and round to the nearest tenth, resulting in a gain of 76.8%.

Step-by-step explanation:

To calculate Randy's capital gain as a percent of the original purchase price, follow these steps:

First, find the capital gain by subtracting the original purchase price from the selling price: $6,100 - $3,450 = $2,650.

Next, divide the capital gain by the original purchase price: $2,650 / $3,450.

Then, multiply the result by 100 to convert it to a percentage: ($2,650 / $3,450) x 100 = 76.8116%.

Finally, round the percentage to the nearest tenth: 76.8%.

Therefore, Randy's capital gain expressed as a percent of the original purchase price is 76.8%.

Answer 2

well, the capital gain was hmmm 6100 - 3450 = 2650 bucks.

if we take $3450 as the 100%, what's $2650 off of it in percentage?

`\begin{array}{ccll} amount&\%\\ \cline{1-2} 3450 & 100\\ 2650& x \end{array} \implies \cfrac{3450}{2650}~~=~~\cfrac{100}{x} \\\\\\ \cfrac{69}{53}=\cfrac{100}{x}\implies 69x=5300\implies x=\cfrac{5300}{69}\implies x\approx 76.8`