Question

The price of a technology stock was $9.68 yesterday. Today, the price fell to $9.61. Find the percentage decrease. Round your answer to the nearest tenth of a percent.

Answer 1

Use Ratio method

9.68 : 100

9.61 : x

Cross multiply

9.68x=961

x=961/9.68

x=99.2768595

Rounded off its 99%, so there has been a 100-99=1% percentage loss

Explanation: