Question

If you bought a stock last year for a price of $130, and it has gone down 10.3% since
then, how much is the stock worth now, to the nearest cent?

Answer 1

Answer:

$117

Step-by-step explanation:

Given: Price of stock= $130

           Price of stock has gone down to 10.3% after a year.

As given price of stock will go down to 10.3%

Price of stock reduced = $\frac{10.3}{100} \times 130$

∴ Price of stock reduced= $\ 13.39$

Present price of stock = $previous\ price\ of\ stock - price\ of\ stock\ reduced$

Present price of stock= $130 - 13.39 = 116.61$

∴ Present price of stock to the nearest cent is $117