Question

What was the percent decrease in the price of MegaTek (MGTK) stock during the market decline of March 1, 2001, to March 1, 2002?

Answer 1

Answer:

Insufficient data.

Step-by-step explanation:

Here, we need to find the percent decrease in the price of the stock during the market decline of March 1, 2001, to March 1, 2002,

i.e $\frac{\text{Price of stocks on 1 March 2001 - Price of stock 1 March 2002}}{\text{Price on 2001}}\times 100$

(1)

∵ The price of the stock during March 1, 2001 = $56.20,

So, the percentage decrease = $\frac{56.20 - \text{Price of stock March 1, 2002}}{\text{Price on 2001}}\times 100$

Thus, data is insufficient to find the percentage decrease.

(2) ∵ The price of the stock during January 1, 2002 = 1 quarter of $56.20,

$=\frac{1}{4}(56.20)$

= $ 14.05

i.e. we have neither price in 1 march 2001 nor price in 1 march 2002.

Thus, data is insufficient to find the percentage decrease.

Even we combined the statements (1) and (2),

The data is insufficient to find the percentage decrease.