Question

A brokerage firm charges a fee of 1% If its fee on a stock purchase was $400, what was the amount of the purchase?​

Answer 1

Answer:

The answer is $404 .

Step-by-step explanation:

First of all, let's find the 1% of $400.  

Let' suppose it is "X" which is unknown

X= 1% x 400   (1% means 1/100)

X= 1/100 x 400

After cancellation:

X = $4

Add this into the fees of stock purchase to know the orginal amount of purchase.

$400 + $4 = $404

Thus the amount of purcahse is $404.