Tipeni bought 100 shares in a bank for $35.60 each. He sold them two years later for $48.90 and paid a brokerage fee of $32.
a. What is the profit made on these shares?
b. What is the profit as a percentage of the cost of the shares?
c. What is the profit as a percentage of the cost of the shares?

a. Total cost = 100 × $35.60 + $32
= $3592

Sales = 100 × $48.90 – $32 ^{(don’t forget that the brokerage fee will reduce the sales earnings, so it is subtracted, not added)}
= $4858

b. Profit = $4858 – $3592
= $1266
(working this out on the assumption that the brokerage fee is charged on both the purchase and the sale)

c. Profit percentage = $$\frac{1266}{3560}\times 100$$
= 35.6%