An investor purchased 100 shares of stock X at 6 1/8 dollars per share and sold them all a year later at 30 dollars per share. If the investor paid a 2 percent brokerage fee on both the total purchase price and the total selling price, which of the following is closest to the investor's percent gain on this investment?  Select the correct option:
A) 92%
B) 240%
C) 280%
D) 395%
E) 380%
If the purchase price was 6$ per share then the investor would have made a profit of 400%.   Since the purchase price is slightly more than 6$ the profit would be slightly less than 400%.   Also a 2% brokerage is negligible and it brings down the profit percentage only by a small value. Approximation is very useful to solve these kind of problems as the answer choices are far apart.   Answer: 395%
<result>D</result>
An investor purchased 100 shares of stock X at 6 1/8 dollars per share and sold them all a year later at 30 dollars per share. If the investor paid a 2 percent brokerage fee on both the total purchase price and the total selling price, which of the following is closest to the investor's percent gain on this investment?