Question

The price of a technology stock has dropped to $9.54 today. Yesterday's price was $9.61 . Find the percentage decrease. Round your answer to the nearest tenth of a percent.

Answer 1

$Percentage \: decrease = \frac{decreas \: in \: price}{Original \: price} \times 100$

Yesterday's price is the original price or the old price.

$Percentage \: decrease = \frac{9.61 - 9.54}{9.61} \times 100$

$Percentage \: decrease = \frac{0.07}{9.61} \times 100$

$Percentage \: decrease = \frac{700}{961} = 0.728$%

Rounding to the nearest tenth means round to one decimal place.

This will give us,

0.7% decrease in price.

Therefore between yesterday and today, there was a 0.7 percentage decrease in price.