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# When the stock market opened yesterday, the price of a share

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Re: When the stock market opened yesterday, the price of a share [#permalink]
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boomtangboy wrote:
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%

Opening price = $$10.50$$
Closing price = $$11.25$$

Increase in price = $$0.75$$

Percent increase in the price of stock = $$\frac{0.75}{10.50}*100$$

So the answer is (D) 7.14%
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Re: When the stock market opened yesterday, the price of a share [#permalink]
Opening price = 10.50
Closing price = 11.25

Increase in price = 0.75

Formula percent increase= New(11,25)-Old(10,50) / Old(10,50)

Percent increase in the price of stock = 0.75/10.50 ∗ 100

0,75 = 3/4

10,50= 21/2

Substitute 3/4 for 0.75 and 21/2 for 10,50.

3/4 /(divided by) 21/2 becomes 3/4 * 2/21. Simplify it further we get 1/14, which is 7,1 % D
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Re: When the stock market opened yesterday, the price of a share [#permalink]
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Re: When the stock market opened yesterday, the price of a share [#permalink]
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