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10 May 2017, 02:29
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E
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At the start of trading on a particular day the price of stock x is $5. If during the day the price falls to $4 by what percent does the price of the stock decrease?
A. 8%
B. 12.5%
C. 14%
D. 16%
E. 20%
A. 8%
B. 12.5%
C. 14%
D. 16%
E. 20%
10 May 2017, 03:18
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Initial price: $5
Now, note that price falls to $4
So, Final price: $4
Difference in price: $1
Percentage decrease in price is given as: \(\frac{Difference}{Initial Price}*100\) which in this case would be:
\(\frac{$1}{$5}*100\) which is 20%.
Hence, option E should be the correct answer.
Now, note that price falls to $4
So, Final price: $4
Difference in price: $1
Percentage decrease in price is given as: \(\frac{Difference}{Initial Price}*100\) which in this case would be:
\(\frac{$1}{$5}*100\) which is 20%.
Hence, option E should be the correct answer.
12 May 2017, 13:40
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Bunuel
At the start of trading on a particular day the price of stock x is $5. If during the day the price falls to $4 by what percent does the price of the stock decrease?
A. 8%
B. 12.5%
C. 14%
D. 16%
E. 20%
A. 8%
B. 12.5%
C. 14%
D. 16%
E. 20%
We can create the following equation in which n = the percent decrease:
5(1 - n/100) = 4
5(100 - n)/100 = 4
500 - 5n = 400
5n = 100
n = 20%
Answer: E
