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10. Sam and Jessica have a contest to see who can earn more profit by investing $1,000 in the stock market. Sam
buys 50 shares of SmartphoneCo for $20.share. Jessica buys 200 shares of Juice Co for $5/share. A year later,
Sam sells his SmartPhoneCo stock for $22.share and Jessica sells her JuiceCo stock for $7.share. Whose figures
below are correct when it comes to calculating their profits?
a. Sam had a profit of $1100 and Jessica's profit was $1,4000
b. Sam and Jessica both had a total profit of $2
C. Jessica had a profit of $4000 and Sam had a profit of $100
d. Sam and Jessica both had a total profit of $1,000
e. Since SmartPhoneCo stock was sold at a higher price than JuiceCo, Sam had more profit than Jessica

Respuesta :

Answer:

A

Step-by-step explanation:

Sam=50x22=1100

Jessica=200x5=1400

Sam had a profit of $100 and Jessica had a profit of $400.

What is profit?

"It is the gain amount from any business activity."

Formula of profit:

profit = selling price - cost price

For given question,

Sam and Jessica invested $1,000 in the stock market.

This means, cost price = $1000

Sam buys 50 shares of Smartphone Co for $20/share.

Jessica buys 200 shares of Juice Co for $5/share.

A year later,

Sam sells his Smartphone Co stock for $22/share.

Total selling price = 50 shares × $22

                                  = $1100

So, the profit would be,

⇒ profit = 1100 - 1000

⇒ profit = $100                             .......................(1)

and Jessica sells her Juice Co stock for $7/share.

Total selling price = 200 shares × $7

                                  = $1400

So, the profit would be,

⇒ profit = 1400 - 1000

⇒ profit = $400                     ...........................(2)

From (1) and (2),

Sam had a profit of $100 and Jessica had a profit of $400.

Learn more about profit here:

https://brainly.com/question/21297845

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