Question

Kenneth purchased 800 shares of stock for $18.45 per share. He sold them for $24.65 per share. Express Kenneth’s capital gain as a percent, rounded to the nearest hundredth of a percent

Answer 1

kenneth's capital gain in percentage rounded to the nearest hundredth = 33.60%

Explanation:

total shares = 800

cost of 1 share = $18.45

purchase amount of total shares = 800 * 18.45 = $14,760

shares sold at price of 1 share = $24.65

total shares sold at = 800 * 24.65 = $19,720

capital gain = $19,720 - $14,760 = $4,960

%age = 4960 / 14760 * 100 = 33.604%

by rounding to the nearest hundredth %age = 33.60%

Answer 2

Kenneth purchased 800 shares of stock for $18.45 per share.

he paid in total : 800*18.45=$14760

He sold them for $24.65 per share.

total amount of the sale : 800*24.65=$19720

Kenneth’s capital gain as a percent, rounded to the nearest hundredth of a percent

[(19720-14760)/14760]*100=33,6043360..=33,60%

Explanation: