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The price of a technology stock has dropped to $9.59 today. Yesterday's price was $9.68. Find the percentage decrease. Round your answer to the nearest tenth of a percent.

Question

The price of a technology stock has dropped to 9.59today.Yesterdayspricewas9.59 today. Yesterday's price was 9.68. Find the percentage decrease. Round your answer to the nearest tenth of a percent.

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Solution

To calculate the percentage decrease:

  1. First, find the difference in price between yesterday and today. Subtract today's price from yesterday's price: 9.689.68 - 9.59 = $0.09.

  2. Next, divide the difference by the original price (yesterday's price) to find the decrease: 0.09/0.09 / 9.68 = 0.00929752066.

  3. To convert this to a percentage, multiply by 100: 0.00929752066 * 100 = 0.929752066.

  4. Finally, round this to the nearest tenth of a percent: 0.9%.

So, the percentage decrease in the price of the technology stock is 0.9%.

This problem has been solved

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