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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.
a.
loss of $0.67 per share
b.
loss of $2 per share
c.
profit of $0.67 per share
d.
profit of $2 per share

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d; profit of $2 per share. divide 450 by 75 get 6 then 400 by 50 and get 8. subtract 6 from 8 and get two.

We have been given that Elly buys 75 shares of stock in a mutual fund for a total investment of $450.

It means the cost of 1 share is given by

[tex]\frac{450}{75}\\ \\ =\$6[/tex]

Now, we have been given that she sells 50 shares of her stock for total proceeds of $400.

It means the cost of 1 share is given by

[tex]\frac{400}{50} \\ \\ \$8[/tex]

She purchased per share at $6 and sold per share at $8.

It means that she made a profit of [tex]8-6=\$2[/tex] per share.

Therefore, d is the correct option.

(d) profit of $2 per share