Final answer:
To find the percentage decrease in the stock price, you subtract the new price from the old price, divide by the old price, and multiply by 100. The price of the technology stock decreased by 1.3 percent.
Step-by-step explanation:
To find the percentage decrease in the price of a technology stock that dropped from $9.74 to $9.61, you can use the following formula:
Percentage Decrease = [(Old Price - New Price) / Old Price] x 100
Insert the values into the formula to calculate the percentage decrease:
Percentage Decrease = [($9.74 - $9.61) / $9.74] x 100
Percentage Decrease = ($0.13 / $9.74) x 100
Percentage Decrease = 0.01334 x 100
Percentage Decrease = 1.334%
When you round this to the nearest tenth, you get:
Percentage Decrease = 1.3%
The price of the technology stock has decreased by 1.3 percent.