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After several shares of the company's stock were sold, a profit of $1.320 was earned. The profit was 15%
over a 30 day period. How much were the shares worth when they were originally purchased?

Respuesta :

Answer:

$8.8

Step-by-step explanation:

Let the original price of shares be [tex]x[/tex]

Profit earned = $1.320

percentage profit = 15%

∴ [tex]\frac{15x}{100} = 1.320\\15x = 132.0\\x = \frac{132}{15} \\x = 8.8[/tex]

Original price of shares were = $8.8