miguel paid a total of $12,000 for stock that was $8 per share. if he sold all his shares for $15,000, how…

miguel paid a total of $12,000 for stock that was $8 per share. if he sold all his shares for $15,000, how much profit on each share did he make? a. $2 b. $8 c. $10 d. $12 please select the best answer from the choices provided

miguel paid a total of $12,000 for stock that was $8 per share. if he sold all his shares for $15,000, how much profit on each share did he make? a. $2 b. $8 c. $10 d. $12 please select the best answer from the choices provided

Answer

Explanation:

Step1: Calculate number of shares

Number of shares = $\frac{12000}{8}=1500$

Step2: Calculate selling - price per share

Selling - price per share = $\frac{15000}{1500}=10$

Step3: Calculate profit per share

Profit per share = $10 - 8=2$

Answer:

A. $2$