Question

The price of a technology stock has dropped to $9.71 today. Yesterday's price was $9.80. Find the percentage decrease.

Answer 1

Answer:

The percentage decrease = 0.9%

Step-by-step explanation:

• Initial value = $9.80

• Final value = $9.71

Using the formula

Percentage Decrease = [ (Initial Value - Final Value) / |Initial Value| ] × 100

                                    = [(9.80 - 9.71 ) / (9.80)] × 100

                                    = [0.09 / 9.80] × 100

                                    = 0.009 × 100  

                                    = 0.9%

Therefore, the percentage decrease = 0.9%