A share of stock in the Bree Medical Supply Company is quoted at 35 1/4 . Suppose you hold 20 shares of that stock, which you bought at 31 1/2. If you sold your stock at 35 1/4, which of the following would be true?

A. You suffered a loss of $75.00.
B. You made a profit of $705.00.
C. You suffered a loss of $630.00.
D. You made a profit of $75.00.

Question

brandilee brandilee

13-12-2015
Mathematics

contestada

A share of stock in the Bree Medical Supply Company is quoted at 35 1/4 . Suppose you hold 20 shares of that stock, which you bought at 31 1/2. If you sold your stock at 35 1/4, which of the following would be true?

A. You suffered a loss of $75.00.
B. You made a profit of $705.00.
C. You suffered a loss of $630.00.
D. You made a profit of $75.00.

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taskmasters taskmasters · Answer 1 · 2015-12-13T12:07:44+01:00

In the given question, there are several information's of immense importance. The information's are:
Cost Price of a stock of Bree Medical Supply = 31 1/2
   = 63/2 dollars
Cost at which the 20 stocks of Bree Medical Company bought = (63/2) * 20
   = 630 dollars
Sale price of each stock = 35 1/4 dollars
Sale price of each stock = 141/4 dollars
Sale price of 20 stocks = (141/4) * 20
= 705 dollars
Then amount of profit made = (705 - 630) dollars
      = 75 dollars
So it can said that the statement you made a profit of $75 and so option "D" is the correct option.