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When the stock market opened yesterday, the price of a share
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Updated on: 01 Apr 2012, 02:05
Updated on: 01 Apr 2012, 02:05
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When the stock market opened yesterday, the price of a share of stock X was 10 1/2. When the market closed, the price was 11 1/4. Of the following, which is closest to the percent increase in the price of stock X?
A. 0.5%
B. 1.0%
C. 6.7%
D. 7.1%
E. 7.5%
A. 0.5%
B. 1.0%
C. 6.7%
D. 7.1%
E. 7.5%
Originally posted by boomtangboy on 31 Mar 2012, 21:16.
Last edited by Bunuel on 01 Apr 2012, 02:05, edited 1 time in total.
Last edited by Bunuel on 01 Apr 2012, 02:05, edited 1 time in total.
Edited the question
Re: Stock Prices
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01 Apr 2012, 02:05
01 Apr 2012, 02:05
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boomtangboy wrote:
15. When the stock market opened yesterday, the price of a share of stock X was . When the market closed, the price was . Of the following, which is closest to the percent increase in the price of stock X?
(A) 0.5%
(B) 1.0%
(C) 6.7%
(D) 7.1%
(E) 7.5%
(A) 0.5%
(B) 1.0%
(C) 6.7%
(D) 7.1%
(E) 7.5%
Question should read:
When the stock market opened yesterday, the price of a share of stock X was 10 1/2. When the market closed, the price was 11 1/4. Of the following, which is closest to the percent increase in the price of stock X?
A. 0.5%
B. 1.0%
C. 6.7%
D. 7.1%
E. 7.5%
General formula for percent increase or decrease, (percent change): \(Percent=\frac{Change}{Original}*100\).
So, the percent increase in the price of stock X is \(\frac{\frac{45}{4}-\frac{21}{2}}{\frac{21}{2}}*100=\frac{50}{7}%\approx{7.1%}\).
Answer: D.
General Discussion
Manager
Joined: 06 Jan 2012
Status:May The Force Be With Me (D-DAY 15 May 2012)
Posts: 164
Given Kudos: 33
Location: India
Concentration: General Management, Entrepreneurship
Schools: ISB '14 (D) INSEAD Jan '13 (D) Tuck '15 (D) Ross '15 (D) Duke '15 (D) NUS '15 (D) NTU '15 (WL) Ivey '15 (D) Johnson '16 (S)
Re: When the stock market opened yesterday, the price of a share
[#permalink]
01 Apr 2012, 05:20
01 Apr 2012, 05:20
Thanks Bunuel.....
