Question

Warren bought some shares of stock and later sold them for a 15% profit. If he shold the stock for $176.64 per share, how much per share did he buy the stock for?

Answer 1

To calculate the original purchase price of the stock, divide the selling price of $176.64 by 1.15, because the selling price includes the 15% profit. This gives an original purchase price of $153.60 per share.

Step-by-step explanation:

If Warren sold his stock at a 15% profit and the selling price was $176.64 per share, we need to find out the original purchase price per share. The selling price represents 115% of the original price (100% + 15% profit). Therefore, to find the original price, we can set up the equation:

115% of original price = $176.64

We convert 115% to a decimal by dividing by 100, which gives us 1.15:

1.15 × (original price) = $176.64

To find the original price, we divide the selling price by 1.15:

Original price = $176.64 / 1.15

Original price = $153.60 per share

Thus, Warren bought the stock for $153.60 per share before selling it for $176.64 per share, realizing a profit.

Answer 2

150.144

Step-by-step explanation:

15% of 176.64 is 26.496

so you subtract the 15% profit he made to find the original and then you get 150.144