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5 August, 04:37

Miguel paid a total of $12,000 for stock that was $8 per share. If he sold all his shares for $15,000, how much profit on each share did he make? a. $2 b. $8 c. $10 d. $12

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  1. 5 August, 05:28
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    If you would like to know how much profit on each share did he make, you can calculate this using the following steps:

    $12,000 / $8 = 1,500 shares

    $15,000 / 1,500 shares = $10 per share

    x% of $8 is $10

    x/100 * 8 = 10 / * 100/8

    x = 10 * 100 / 8

    x = 125%

    125% - 100% = 25%

    Miguel made 25% ($2) profit on each share.
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