Question
An investor buys 2650 shares at 1.44 each use logarithm tables to calculate his profit to the nearest naira o he sells them 3 years later at 1.565 each
Answers
GPT 3.5
To calculate the profit, we need to find the difference between the selling price and the buying price, and then multiply it by the number of shares.
Buying price = 1.44 naira
Selling price = 1.565 naira
Profit per share = Selling price - Buying price
= 1.565 - 1.44
= 0.125 naira
Total profit = Profit per share * Number of shares
= 0.125 * 2650
= 331.25 naira
Therefore, the investor's profit, rounded to the nearest naira, is 331 naira.
Buying price = 1.44 naira
Selling price = 1.565 naira
Profit per share = Selling price - Buying price
= 1.565 - 1.44
= 0.125 naira
Total profit = Profit per share * Number of shares
= 0.125 * 2650
= 331.25 naira
Therefore, the investor's profit, rounded to the nearest naira, is 331 naira.