An investor purchased 600 shares of stock for 3000 per share

An investor purchased 600 shares of stock for $30.00 per share and sold them later for $33.26 per share. The broker\'s commission was 1% of the purchase price and 1% of the selling price. Find the amount the investor made on the stock.

Solution

total cost price of 600 stocks= 600*30=18000

broker\'s commission = 1% of cost price= 0.01*18000=180

total selling price = 600*33.26= 19956

broker\'s commission = 1% orf selling price= 0.01*19956=199.56

profit= 19956 -18000-180-199.56=1576.44

Hence investor made approx $1576.44 on the stock