AriaCamille97
contestada

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%

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Respuesta :

I just had this on a quiz the answer is D) 98.8%
JeanaShupp

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%.