A share of stock in the Lofty Cheese Company is quoted at 25 1/4. Suppose you hold 30 shares of that stock, which you bought at 20 1/4. If you sell your stock at 25 1/4, which one of the following statements would be true? A: you'll suffer a loss of $15
B: you'll make a profit of $15
C: you'll make a profit of $150
D: you'll suffer a lose if $150

Answers

Answer 1

Answer: Since each share was purchased when it was still quoted at 20 1/4, then when the stock value increases, it gains (25 1/4 - 20 1/4) = $5.00 for each stock.Since you're to sell 30 shares of your stock, that means you'll be making a profit of (30 x 5 ) = $150.00.Thus, the answer is C.

Answer 2

Answer:

The true statement is that you'll make a profit of $150 which is option C.

Given that,

A share of stock in the Lofty Cheese Company is quoted at 25 1/4.

Suppose you hold 30 shares of that stock, which you bought at 20 1/4.

If you sell your stock at 25 1/4, we have to know if they suffer profit or loss and by what amount.

Cost of the stock which you bought is,

Cost = 30 × 20 1/4

= 30 × 20.25

= 607.5

If you sell your stock at 25 1/4,

Selling price = 30 × 25 1/4

= 30 × 25.25

= 757.5

Difference = 757.5 - 607.5

= 150

Hence you have a profit of $150.

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Answers

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Answers

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Answers

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Answers

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