Question

On the morning of June for the stock of Nagasaki corporation opened at a price of 33 3/8 pressure by noon the price had risen 4 1/4 for Cheryl end of the day the price at fallen 8 7/8 per share from the price at noon what was the closing price for the day

Answer 1

As per the information in the given question, the morning opening price the share of Nagasaki Corporation is
`33(3)/(8)`. This can be rewritten as:

`33(3)/(8)=(264+3)/(8)=(267)/(8)` .........(Equation 1)

Now, by afternoon, the share price of Nagasaki Corporation increases by
`4(1)/(4)`. Thus, we have to add this increase to the opening share to get the actual share price in the afternoon. Thus, we will have to add
`4(1)/(4)` and (Equation 1) to find the share price in the afternoon.

We know that
`4(1)/(4)` can be rewritten as
`4(1)/(4)=(17)/(4)`. Thus, adding
`4(1)/(4)` to (Equation 1) means effectively adding
`(17)/(4)` to (Equation 1) which is:

`(267)/(8)+(17)/(4) =(267)/(8)+(17)/(4)* (2)/(2)`

(we converted the denominator of
`(17)/(4)` to 8 by multiplying it by 2 which in turn meant multiplying the numerator by 2 too.)

`\therefore (267)/(8)+(17)/(4)=(267)/(8)+(34)/(8)=(301)/(8)`

Thus,
`(301)/(8)` is the afternoon price.

Now, the closing price will be the fall in the afternoon price which is
`8(7)/(8)=(71)/(8)`.

Thus, Closing Price=Afternoon Price - Fall in the Afternoon Price

Closing Price=
`(301)/(8)-(71)/(8)=(230)/(8)=28(3)/(4)`

Therefore, the closing price per share of the Nagasaki Corporation for the day was
`28(3)/(4)`