Question

Mr. Shift bought TNT stock at $30 per share and sold it at $45per share. What was his percent profit?

Answer 1

We have to use the formula for percent profit with the values given. Doing so, we have:

`\begin{gathered} \text{ \% profit}=\frac{\text{ Selling price - Cost price}}{\text{ Cost price}}*100=(45-30)/(30)*100\text{ (Replacing the value)} \\ (45-30)/(30)*100=(15)/(30)*100\text{ (Subtracting)} \\ (15)/(30)*100=50\text{ \%} \end{gathered}`

The percent profit is 50%.