ZandonE777378 ZandonE777378

25-10-2022
Mathematics

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Compute the percent of profit or loss on shares of stock purchased at8.625 and sold at 10.75.

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ChauncyA163202 ChauncyA163202

25-10-2022

ANSWER:

24.63%

STEP-BY-STEP EXPLANATION:

The first thing is to mention that it is a profit because it was bought at a lower amount than it was sold, therefore

We take 100% as the lowest value, and thus we calculate the profit percentage

[tex]10.75\cdot\frac{100}{8.625}=124.63[/tex]

Then the difference between both percentages is the profit percentage

[tex]124.63-100=24.63[/tex]

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