An oil prospector will drill a succession of holes in a given area until he finds productive wells. The probability that he is s
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Step-by-step explanation:
Let's pick some easy numbers for illustration.
Let x equal our initial stock purchase, and, say it was $100.
x = $100
The problem says it's value dropped by 17.2%. If x = 100 is 100% of our stock value the 17.2% less is
So now our stock is worth 0.828(100) = $82.80.
Now how much of an increase do we need to get back to $100.
So our base is $82.80 because our stock price dropped, we want to know what percent increase is $17.20 of $82.80
Or 20.77% increase to get back to original price.
To make this generic, since $100 is not supplied information, substitute x for 100 and 0.828x for the amount of money dropped.
x = original stock value
Is the amount of value lost, and to be regained in the second part of the question.
To find out what portion the decrease is of the new value
Or 20.77%