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Logan bought stocks and later sold them for $3,437,500, making a profit of 25%. How much did he pay for the stocks?

Respuesta :

Eddie1Wan

Answer:

Logan bought the stocks at $2,750,000

Step-by-step explanation:

So according to the question $3,437,500 is the amount at which 25% interest was made

This means that the original value(100% value) has been increased to 125%(thus 100+25%)

By using ratio and proportion,

If 125%-$3437500

then 100% ={100%/125%}×$3,437,50

=$2,750,000

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