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  • 01-08-2018
  • Mathematics
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A person sold 100 shares of a stock at a loss of 40%. If the selling price for the 100 shares was $3,000, which of the following comes closest to what was paid for the stock?

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sarajevo
sarajevo sarajevo
  • 01-08-2018

A person sold 100 shares of a stock at a loss of 40%.

selling price for the 100 shares was $3,000

Let the stock was bought at $x then we can write

[tex] x-\frac{40x}{100}=3000\\
\\
\frac{100x-40x}{100}=3000\\
\\
\
\frac{60x}{100}=3000\\
\\
\
60x= 3000*100\\
\\
x=\frac{3000*100}{60} \\
\\
\
x=5*100=5000\\ [/tex]

Hence Amount paid for the Stock was $5000

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