SOLUTION: 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 did he get

Algebra ->  Customizable Word Problem Solvers  -> Misc -> SOLUTION: 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 did he get      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 1030663: 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 did he get for the last 50?
Answer by jorel555(1290) About Me  (Show Source):
You can put this solution on YOUR website!
100 shares at $100 each = $10000
50 shares @ (1.1)(100)=$5500
50 shares @ (.9)(110)= 50 shares @ $99= $4950 for the last 50 shares!!!!!