Gavin thought he was making a good investment when he heard about an online grocery company. So he brought 500 shares in a compa

Question

2 years ago

15

Gavin thought he was making a good investment when he heard about an online grocery company. So he brought 500 shares in a compa

ny at $25 a share. The company ended up going bankrupt, and when Gavin sold his shares he only made $150 in total. What was the percent decrease in the share price?

Mathematics

1 answer:

Oksanka [162] · Answer 1 · 2022-07-18T16:39:35+03:00

Originally, the 500 shares were worth 25 bucks a share. If he only made $150 with 500 shares, the shares were worth $0.30 a share. So, subtract $0.30 from $25 to get $24.70. Divide 24.7 by 25 to get 0.988. Multiply this by 100 to change it into a percent. The share price decreased 98.8%.