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At the beginning of 2009, Kim bought 100 shares of stock in a company
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09 Mar 2022, 12:44
09 Mar 2022, 12:44
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61% (01:37) correct
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At the beginning of 2009, Kim bought 100 shares of stock in a company at a price of 31$ per share. During the year, the price of the stock changed daily; the highest was 35$ per share and the lowest price was 25$ per share. If Kim sold all 100 share of stock on the same day in 2009, which of the following could be her percent profit or percent loss on the sale?
Indicate all such percent profits or percent losses.
A) 15% loss
B) 10% loss
C) 10% profit
D) 15% profit
Indicate all such percent profits or percent losses.
A) 15% loss
B) 10% loss
C) 10% profit
D) 15% profit
Re: At the beginning of 2009, Kim bought 100 shares of stock in a company
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09 Mar 2022, 13:18
09 Mar 2022, 13:18
Expert Reply
Tricky problem is not a good way to identify the problem itself
You should use the words of the stem
You should use the words of the stem
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At the beginning of 2009, Kim bought 100 shares of stock in a company
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09 Mar 2022, 13:43
09 Mar 2022, 13:43
khalilullahtaj wrote:
At the beginning of 2009, Kim bought 100 shares of stock in a company at a price of 31$ per share. During the year, the price of the stock changed daily; the highest was 35$ per share and the lowest price was 25$ per share. If Kim sold all 100 share of stock on the same day in 2009, which of the following could be her percent profit or percent loss on the sale?
Indicate all such percent profits or percent losses.
A) 15% loss
B) 10% loss
C) 10% profit
D) 15% profit
Indicate all such percent profits or percent losses.
A) 15% loss
B) 10% loss
C) 10% profit
D) 15% profit
If the shares sold for $25, then the percent decrease = (31 - 25)/31 = 6/31 ≈ 0.194 ≈ 19.4%
If the shares sold for $35, then the percent increase = (35 - 31)/31 = 4/31 ≈ 0.129 ≈ 12.9%
So, the percent change can be anything from a 19.4% loss to a 12.9% profit.
So, A, B and C are possible scenarios.
