Mr. Tanvir purchased stock for Tk. 1,500 and sold 2/3 of it after its value doubled. He sold the remaining stock at 5 times its purchase price. What was his total profit on the stock?
Created: 2 years ago |
Updated: 3 weeks ago
best des
Original price:
2/3 of stock = 1000
1/3 of stock = 500
Sale price:
2/3 doubled = 2*1000 = 2000
1/3 quintupled = 5*500 = 2500
Total profit = Total selling price - Total purchase price of stock =
(2000 + 2500) - (1000 + 500) = 4500 - 1500 = 3000 tk
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