QAMath › A share of stock in the Lofty Cheese Company is quoted at 25 1/4. Suppose you hold 30 shares of that stock, which you bought at 20 1/4. If you sell your stock at 25 1/4, which one of the following statements would be true?
Q

A share of stock in the Lofty Cheese Company is quoted at 25 1/4. Suppose you hold 30 shares of that stock, which you bought at 20 1/4. If you sell your stock at 25 1/4, which one of the following statements would be true?

A. You'll make a profit of $15.

B. You'll suffer a loss of $150.

C. You'll make a profit of $150.

D. You'll suffer a loss of $15.

A

Answer: C. You’ll make a profit of $150.

One share of stock is quoted at 25 ¼ in the Lofty Cheese Company. If you hold around 30 shares of that exact stock, which was bought at 20 ¼. If that same stock is sold at 25 ¼, a profit of $150 dollars will be gotten

Solution:

For every stock, a profit of 25 ¼ – 20 ¼ = $5

Profit= 30 × $5 = $150

3 months ago
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