a person sold 100 shares of a stock at a loss of 40%. If the selling price of the 100 shares was $3000, which of the following comes closest to what was paid for the stock? a. $4200 b. $4800 c. $5000 d. $7500
so let's set up an equation: x-.4x=3000 , where x is the original price of the stock (which is what you want to find) we subtract .4x since the .4x is denoting that 40% of the original price was taken away from the original value (x) which then equals 3000 So, .6x=3000 x=3000/.6 x=5000
The answer is C) $5000 If you multiply 5000 by 40% or .40 that will give you the amount will be lost which is 2000. 5000 - 2000 = the total amount $3000.