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 Please select the best answer from the choices provided A B C D.

Answer 1

Answer: A. $2

Explanation: He paid $12000 total, at a rate of $8 per share. This means he bought 12000/8 = 1500 shares.
He sells these 1500 shares for $15000; this means he received 15000/1500 = $10 per share.
This means he made 10-8 = $2 profit per share.

Answer 2

Answer: 10

Explanation:

Miguel paid a total of $12,000 stock that was $8 per share. That's $1,500 you make. 15,000 that was $8 per share. That's $1,875. I dont know if the answer is right, but I wish you well