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23 March, 15:14

Ben's broker charges a commission of $125 for every $1,000 of stock bought or sold. Ben bought 442 shares of Xyx Motors when the share price was $15.67, and sold them when the share price was $23.14. How much profit did Ben make?

a. $10,227.88

b. $8,083.62

c. $1,157.48

d. $3,301.74

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Answers (2)
  1. 23 March, 18:24
    0
    First, calculate how much Ben spent when he bought the shares by multiplying the share price with the number of shares, having a result of $6926.14. Then calculate how much he got when he sold the shares by multiplying the number of shares with the selling share price, having a result of $10227.88. So, you just have to deduct the amount he bought the share to the amount he sold the share. So he would have a profit of $3301.74. The answer is D.
  2. 23 March, 18:30
    0
    D is the correct answer
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