John buys 100 shares of stock at \(\$100\) per share. The price goes up by 10% and he sells 50 shares. Then, prices drop by 10% and he sells his remaining 50 shares.

How much did he get for the last 50?

\(\$4950\)

Explanation

The stock first increased by 10%, that is, by \(\$10\) (10% of \(\$100\)) to \(\$110\) per share. Then, the price decreased by \(\$11\) (10% of \(\$110\)) so that the sale price was \(\$110-\$11 = \$99\) per share, and the sale price for 50 shares was \(99 \times \$50 = \$4950\).

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