Question

The stock of Company A lost 2% today to $46.55. What was the opening price of the stock in the beginning of the day?

Answer 1

$47.50: opening price

Explanation:

1.00 times p would be the original price.

-0.02 times p would be the loss.

0.98p = $46.55, so the original price was p = ($46.55) / 0.98, or

p = $47.50: opening price