Question

The price of shares of Nadir Explorations Ltd. fell by 76% in the past year, to the current price of $0.45 per share. In dollars and cents, how much did the price of each share drop in the past year?

Answer 1

$0.342 ; 34.2 cents

Explanation:

Given that:

Share price fell by 76% in past year :

current price per share = $0.45

Drop in price of share in past year :

76% of current price

0.76 * $0.45

= $0.342

Price dropped by $0.342 per share

In cent, 0.342 * 100 = 34.2 cents