Question

After several shares of the company's stock were sold, a profit of $1.320 was earned. The profit was 15%

over a 30 day period. How much were the shares worth when they were originally purchased?

Answer 1

$8.8

Explanation:

Let the original price of shares be
`x`

Profit earned = $1.320

percentage profit = 15%

∴
`(15x)/(100) = 1.320\\15x = 132.0\\x = (132)/(15) \\x = 8.8`

Original price of shares were = $8.8