Mathematics

Question

Gavin thought he was making a good investment when he heard about an online grocery company. So he bought 500 shares in the company at $25 a share. The company ended up going bankrupt, and when Gavin sold his shares he only made $150 in total. 

What was the percent decrease in the share price?A)1.2%
B)3%
C)82.3%
D)98.8%

i need this fast i will give brainliest

2 Answer

  • I just had this on a quiz the answer is D) 98.8%
  • Answer: D)98.8%

    Step-by-step explanation:

    Given: The price of one share when Gavin bought them= $25

    Then , the price of 500 shares = [tex]\$25\times500=\$12500[/tex]

    Since,  Gavin sold his shares he only made $150 in total.

    Therefore, the decrease in the share price =[tex]\$12500-\$150=\$12350[/tex]

    Now, the percent decrease in the share price is given by :-

    [tex]=\frac{\text{Decrease in price}}{\text{Previous Price}}\times100\\\\=\frac{12350}{12500}\times100=98.8\%[/tex]

    Hence, the  percent decrease in the share price = 98.8%.

NEWS TODAY