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I need helping find Company C stock price last year

I need helping find Company C stock price last year-example-1

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According to the problem, the stock price this year represents 8% higher than last year, which means it represents 108% (1.08).

So, we just have to solve the following proportion to find the stock price for last year.


\begin{gathered} (97.64)/(1.08)=(x)/(1) \\ \end{gathered}

Let's solve for x


x=90.41

Hence, the stock price last year was around $90.41.

User Amir Naor
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