Question

The price of a technology stock has dropped to $9.54 today. Yesterday’s price was $9.63. Find the percentage decrease. Round your answer to the nearest tenth of a percent

Answer 1

The percentage of change in stock value is 0.93%

Solution:

Given that, The price of a technology stock has dropped to $9.54 today

Yesterday’s price was $9.63

We have to find the percentage decrease by Round the answer to the nearest tenth of a percent.

The percentage change is given as:

`\text { percentage change }=\frac{\text { previous value }-\text { new value }}{\text { previous value }} * 100`

By substituting the values we get,

`\text { changed percentage }=(9.63-9.54)/(9.63) * 100`

`=(0.09)/(9.63) * 100=(9)/(9.63)`

Changed percentage = 0.93457

Hence, the percentage of change in stock value is 0.93%