Question

A certain stock starts the day at $273/8 per share. If it drops $21/2 during the day, what is its closing value? A. $247/8 B. $257/8 C. $241/8 D. $251/8 Mark for review (Will be highlighted on the review page)

Answer 1

A. $ 24 7/8

Explanation:

GIVEN: A stock starts the day at $27 3/8 per share.

Share drops $2 1/2 during the day.

To Find : Closing value

Solution : first we need to find how many 1/8 are there in 1/2

So,
`((1)/(2) )/((1)/(8) ) =4`

when share drops by $2 then share will be :

$27 - $2 =$25

and
`(3)/(8) - 4((1)/(8))`

⇒
`(3)/(8) - (4)/(8)`

⇒
`(-1)/(8)`

So,
`25-(1)/(8)`

⇒
`24(7)/(8)`

So, its closing value is
`24(7)/(8)`.