Question

A stock is worth $28,775 and drops 33% in one day. What percent does the stock have to grow the next day to get back to $28,775

Answer 1

49.254%

Explanation:

The first thing is to calculate the value after it has drops by 33%, like this:

`\begin{gathered} 28775-28775\cdot33\% \\ \\ 28775-28775\cdot0.33 \\ \\ 28775-9495.75=19279.25 \end{gathered}`

Now, we calculate what should grow by the following equation:

`\begin{gathered} 19279.25+19279.25\cdot \:x=28775\: \\ \\ x=(28775\:-19279.25)/(19279.25) \\ \\ x=(9495.75)/(19279.25) \\ \\ x=0.49254\cong49.254\% \end{gathered}`

The percent that should grow is 49.254%