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Chapter 3: Q. 116 (page 334)

The price of a share of one stock fell from \(8.75 to \)8.54. Find the percent decrease.

Short Answer

Expert verified

The percent decrease in the price of a share of one stock is 2.5%.

Step by step solution

01

Step. 1 Given Information

The old price of a share of one stock is $8.75.

The new price of a share of one stock is $8.54.

02

Step. 2 Percentage calculation

The change in the price of a share of one stock is $8.75 - $8.54 = $0.21

Now the percent increase is calculated as follows:

=TotalchangeinthepriceOldpriceofashare×100%=-0.218.75×100%=-0.024×100%=-2.4%

This negative sign shows that the change is negative and it is percent decrease.

Therefore, 2.4% will be the percent decrease.

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