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Bunuel
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At the start of trading on a particular day the price of stock x is $7 10 May 2017, 02:27
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C
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At the start of trading on a particular day the price of stock x is $7. If during the day the price falls to $6 by what percent does the price of the stock decrease?

A. 8%
B. 12.5%
C. 14.3%
D. 16.67%
E. 20%
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C
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At the start of trading on a particular day the price of stock x is $7 Updated on: 05 Apr 2020, 10:07
Originally posted by BrentGMATPrepNow on 10 May 2017, 06:07.
Last edited by BrentGMATPrepNow on 05 Apr 2020, 10:07, edited 1 time in total.
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Bunuel
At the start of trading on a particular day the price of stock x is $7. If during the day the price falls to $6 by what percent does the price of the stock decrease?

A. 8%
B. 12.5%
C. 14.3%
D. 16.67%
E. 20%
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Percent increase/decrease = 100(change in value)/original value
= 100(7 - 6)/7%
= 100(1)/7%
= 100/7%
≈ 14.3%

Answer:
Show Spoiler
C
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At the start of trading on a particular day the price of stock x is $7 10 May 2017, 09:56
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% decrease = (change/original) *100

(7-6)/7 = 14.28%

ans C
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At the start of trading on a particular day the price of stock x is $7 11 May 2017, 06:24
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Bunuel
At the start of trading on a particular day the price of stock x is $7. If during the day the price falls to $6 by what percent does the price of the stock decrease?

A. 8%
B. 12.5%
C. 14.3%
D. 16.67%
E. 20%
Show more

The stock fell by \(\frac{1}{7}\)

We need a 7th of 100%, 100/7 = 14.285
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At the start of trading on a particular day the price of stock x is $7 11 May 2017, 06:30
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Bunuel
At the start of trading on a particular day the price of stock x is $7. If during the day the price falls to $6 by what percent does the price of the stock decrease?

A. 8%
B. 12.5%
C. 14.3%
D. 16.67%
E. 20%
Show more

The price of the stock is $7,
Price falls to $6
So loss = &1

Percentage by which price of the stock decreased = $1/$7 x 100 = 14.3%
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Answer C
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At the start of trading on a particular day the price of stock x is $7 11 May 2017, 08:59
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7th of 100%= 100/7 = 14.285
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At the start of trading on a particular day the price of stock x is $7 12 May 2017, 13:36
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Bunuel
At the start of trading on a particular day the price of stock x is $7. If during the day the price falls to $6 by what percent does the price of the stock decrease?

A. 8%
B. 12.5%
C. 14.3%
D. 16.67%
E. 20%
Show more

We can create the following equation in which n = the percent decrease:

7(1 - n/100) = 6

7(100 - n)/100 = 6

700 - 7n = 600

7n = 100

n = 100/7 = 14.3%

Answer: C
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At the start of trading on a particular day the price of stock x is $7 13 May 2017, 02:09
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Percent decrease in the price of stock is given by following formula:
= \(\frac{Change}{Initial Price}\)*100

Initial Price= $7
Final Price= $6
Change= $7-$6= $1
= \(\frac{1}{7}\)*100= 14.3%

Answer: C.

Kudos please if you like my explanation!
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At the start of trading on a particular day the price of stock x is $7 15 May 2017, 17:22
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Bunuel
At the start of trading on a particular day the price of stock x is $7. If during the day the price falls to $6 by what percent does the price of the stock decrease?

A. 8%
B. 12.5%
C. 14.3%
D. 16.67%
E. 20%
Show more

We can create the following equation in which n = the percentage decrease:

7(1 - n/100) = 6

7(100 - n)/100 = 6

700 - 7n = 600

7n = 100

n = 100/7 ≈ 14.3

Alternate Solution:

Let’s use the percent change formula, which states: % change = [(Original Value – Final Value) / Original Value] x 100%. For this problem, the original value is 7 and the final value is 6.

% change = [(6 – 7) / 7] x 100%

% change = -1/7 x 100%

% change = -0.143 x 100%

% change = -14.3%

The negative value indicates a percentage decrease, so we have an approximate 14.3% decrease in the price of the stock.

Answer: C
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