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Ben’s broker charges a commission of $125 for every $1,000 of stock bought or sold. ben bought 442 shares of xyx motors when the share price was $15.67, and sold them when the share price was $23.14. how much profit did ben make?
a. $10,227.88
b. $8,083.62
c. $1,157.48
d. $3,301.74

Respuesta :

Option c. $1157.48 is the correct answer. Ben made a profit of $1157.48 on the shares of XYZ motors

Commission on purchase or sale of $1000 stock = $125

Number of shares of XYZ motors bought = 442 shares

Price of the share = $15.67

Purchase transaction amount = 442*$15.67 = $6926.14

Number of shares sold = 442 shares

Price of share when sold = $23.14

Sales transaction amount = 442*$23.14 = $10227.88

Total transaction amount of sales and purchases = $6926.14 + $10227.88

= $17154.02

Commission paid on $17154 worth of transaction = $17154*125/1000 = $2144.25

Profit earned by Ben = Sales amount - Purchase amount - Commission paid

= 10227.88 - 6926.14 - 2144.25

= $1157.48

So, profit made by Ben on the shares is $1157.48

Learn more about shares:

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