Question

The stock of Company A lost 2% today to $46.55. What was the opening price of the stock in the beginning of the day?

Answer 1

Answer:

$2327.5

Step-by-step explanation:

The stock of company A lost 2% today .

Let the price of the stock at the beginning of the day be A.

Therefore, a 2% loss of A = $46.55

That’s

2% /100% x A = $46.55

0.02 x A = $46.55

Divide both sides by 0.02

0.02/0.02 x A = $46.55/0.02

A = $2327.5

The price of stock at the beginning of the opening day was $2327.5