Stock worth $40 a share dropped in value by 10% on Monday. Then, it dropped again by $10 the next Tuesday and, finally, increased by 45% the following Friday. What was the final price of a share?

Question

Mathematics

Kaylah Bishop

6 July, 20:19

Stock worth $40 a share dropped in value by 10% on Monday. Then, it dropped again by $10 the next Tuesday and, finally, increased by 45% the following Friday. What was the final price of a share?

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Answers (1)

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Duncan Rivers · Answer 1

In this question, we're going to go step by step to get the final price of the share.

We know that the stock started off as $40 per share, so that would be our starting value.

The stock dropped by 10%, so let's calculate the drop in price.

40 · 0.10 = 4

40 - 4 = 36

On Monday, the value of the stock was $36

On Tuesday, the stock dropped by $10, so calculate that drop as well

36 - 10 = 26

On Tuesday, the stock value is at $26

The stock increased by 45%, so we need to calculate the increase.

26 · 1.45 = 37.70

This means that the final price of the share was $37.70

Answer:

$37.70