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John buys 100 shares of stock at $100 per share. The price goes up by 10% and he sells 50 shares. Then, prices drop by 10% and he sells his remaining 50 shares. How much does he get for the last 50?

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Question:

A
$4950

explanation

The stock first increases by 10%. Each share value is added with $10, which is equal to $110 per share. Then, the price decreases by %10 of $110 which is equal to $11. So, the sale price is $110-$11 = $99 per share. Therefore, the sale price for 50 shares was 99 × $50 = $4950.

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