Question

Elly buys 75 shares of stock in a mutual fund for a total investment of $450. She sells 50 shares of her stock for total proceeds of $400. Determine if Elly made a profit or loss, and how much per share.

Answer 1

she made $2 per share

Answer 2

She made a profit of $ 2 on each share of stock

Explanation:

Elly buys 75 shares of stock in a mutual fund for a total investment of $450.

cost of 1 share of stock= $ 450/75

= $ 6

She sells 50 shares of her stock for total proceeds of $400.

selling price of 1 share of stock=$ 400/50

= $ 8

Hence, She made a profit of $ 2 on each share of stock ($8-$6=$2)