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If Joe bought 800 shares of PalFind at
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03 Dec 2020, 09:48
03 Dec 2020, 09:48
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Question Stats:
85% (00:53) correct
15% (00:49) wrong based on 40 sessions
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The data show the high and low dollar values of five tech company’s stocks in the year 2012
GRE If Joe bought 800 shares of PalFind.jpg [ 56.68 KiB | Viewed 3977 times ]
If Joe bought 800 shares of PalFind at the stock’s lowest value during the year and sold the shares at the stock’s highest value during the year, what was Joe’s profit?
A. $1,600
B. $8,000
C. $16,000
D. $32,000
E. $46,400
Kudos for the right answer and explanation
Attachment:
GRE If Joe bought 800 shares of PalFind.jpg [ 56.68 KiB | Viewed 3977 times ]
If Joe bought 800 shares of PalFind at the stock’s lowest value during the year and sold the shares at the stock’s highest value during the year, what was Joe’s profit?
A. $1,600
B. $8,000
C. $16,000
D. $32,000
E. $46,400
Kudos for the right answer and explanation
Re: If Joe bought 800 shares of PalFind at
[#permalink]
31 Dec 2020, 08:38
31 Dec 2020, 08:38
1
From the chart, we can see that
the highest value for PalFind is 58 (approx)
&
the lower value is 38 (approx)
Difference between values is 20 (approx)
Now, Joe bought 800 shares so profit will be 800 * 20 = 16000
Answer C
the highest value for PalFind is 58 (approx)
&
the lower value is 38 (approx)
Difference between values is 20 (approx)
Now, Joe bought 800 shares so profit will be 800 * 20 = 16000
Answer C
Re: If Joe bought 800 shares of PalFind at
[#permalink]
01 Jan 2021, 06:26
01 Jan 2021, 06:26
Carcass wrote:
The data show the high and low dollar values of five tech company’s stocks in the year 2012
If Joe bought 800 shares of PalFind at the stock’s lowest value during the year and sold the shares at the stock’s highest value during the year, what was Joe’s profit?
A. $1,600
B. $8,000
C. $16,000
D. $32,000
E. $46,400
Kudos for the right answer and explanation
Attachment:
GRE If Joe bought 800 shares of PalFind.jpg
If Joe bought 800 shares of PalFind at the stock’s lowest value during the year and sold the shares at the stock’s highest value during the year, what was Joe’s profit?
A. $1,600
B. $8,000
C. $16,000
D. $32,000
E. $46,400
Kudos for the right answer and explanation
800 shares of PalFind were bought when it was at lowest i.e., $38.
Total purchase price = 800 x $38 --> 30400.
800 shares of PalFind were sold when it was at highest value i.e., $58.
Total selling price = 800 x $58 --> 46400.
Joe's profit = 46400 - 30400 --> $16000.
Option C is the correct answer.
