Question

The stock price for dgy was $38.21. In June. In July the stocked had in by 7 percent, but in August the price fell by 7 percent. What was the price of dgy stock in august . Round your answer to nearest cent , if necessary

Answer 1

The initial price is $38.21, and it got an increase of 7%, so the new price is the old one multiplied by 1.07:

`38.21\cdot1.07=40.88`

Then, the new price decreased by 7%, so let's multiply it by 0.93 (that is, 1 minus 0.07):

`40.88\cdot0.93=38.02`

So the price in August is $38.02.