A share of stock in the Lofty Cheese Company is quoted at 25 1/4. Suppose you hold 30 shares of that stock, which you bought at 20 1/4. If you sell your stock at 25 1/4, which one of the following statements would be true? A. You'll make a profit of $15. B. You'll suffer a loss of $150. C. You'll make a profit of $150. D. You'll suffer a loss of $15.
I believe the correct answer from the choices listed above is option C. You'll make a profit of $150. For every, stock you obtain a profit 25 1/4 - 20 1/4 = $5. You have in stock 30 shares of that product thus the total profit would 30 times of the $5. Profit = 30 ($5) = $150