Pamela owns 37.5% of the stock of a corporation and sells 2/3 of her stock at a 10% profit, What percent of this stock does she own after this transaction?
a. 12.5%
b. 33 1/3%
c. 66 2/3%
d. 72.5%
e. 90%
please answer and explain
.375 * (1- 2/3) = ?
Change to percentage.
answer a, thank you
Answer
To find out what percent of the stock Pamela owns after the transaction, we need to calculate the remaining portion of her original stock.
Pamela initially owns 37.5% of the stock. When she sells 2/3 of her stock, she would have 1/3 of her original stock left.
To calculate the new percentage, we can express 1/3 as a percentage:
1/3 = (1/3) * 100% = 33 1/3%
So, after the transaction, Pamela owns 33 1/3% of the stock.
Therefore, the answer is option b. 33 1/3%.