Question

The price of a technology stock has dropped to $9.54 today. Yesterday’s price was $9.63. Find the percentage decrease. Round your answer to the nearest tenth of a percent

Answer 1

The percentage of change in stock value is 0.93%

Solution:

Given that, The price of a technology stock has dropped to $9.54 today

Yesterday’s price was $9.63

We have to find the percentage decrease by Round the answer to the nearest tenth of a percent.

The percentage change is given as:

$\text { percentage change }=\frac{\text { previous value }-\text { new value }}{\text { previous value }} \times 100$

By substituting the values we get,

$\text { changed percentage }=\frac{9.63-9.54}{9.63} \times 100$

$=\frac{0.09}{9.63} \times 100=\frac{9}{9.63}$

Changed percentage = 0.93457

Hence, the percentage of change in stock value is 0.93%