Answer :
To find the price at which Elliott will sell his shares after a 20% increase, follow these steps:
1. Identify the initial share price:
Elliott purchased shares at [tex]$28 per share. 2. Determine the percentage increase: The share price needs to rise by 20%. 3. Convert the percentage increase to a decimal: 20% can be written as 0.20 in decimal form. 4. Calculate the increase in share price: Multiply the initial share price by the percentage increase: \[ \text{Increase in price} = 28 \times 0.20 = 5.6 \] 5. Add the increase to the initial price to get the selling price: \[ \text{Selling price} = 28 + 5.6 = 33.6 \] Therefore, Elliott will sell his shares at the price of $[/tex]33.60. The correct answer is:
c. $33.60
1. Identify the initial share price:
Elliott purchased shares at [tex]$28 per share. 2. Determine the percentage increase: The share price needs to rise by 20%. 3. Convert the percentage increase to a decimal: 20% can be written as 0.20 in decimal form. 4. Calculate the increase in share price: Multiply the initial share price by the percentage increase: \[ \text{Increase in price} = 28 \times 0.20 = 5.6 \] 5. Add the increase to the initial price to get the selling price: \[ \text{Selling price} = 28 + 5.6 = 33.6 \] Therefore, Elliott will sell his shares at the price of $[/tex]33.60. The correct answer is:
c. $33.60
