Question

Archie bought 100 shares of stock in an ice cream company 2 years ago. He paid $60.65 per share. He just sold all of his shares for $67.68 per share. How much did he gain?

Answer 1

Explanation:

First, we need to find the difference between the price that he sold the shares for and the price that he bought them at: (67.68-60.65) = 7.03

That means that there was a gain of $7.03 per share for Archie.

That being said, since Archie bought 100 shares, we can multiply that number by 100 to find the total gain from selling the shares:

(7.03x100)= 703

The answer then is:

Archie gained $703 from selling all of his shares.