At the beginning of the week, a particular stock sold for 29 3/8 per share. At the end of the same week it sold for 31 2/8. What was the amount of increase per share?
A. 2 3/8
B. 2 1/8
C. 1 7/8
D. 2 5/8
can someone please help me i'm not good at fractions i chose c but im not sure about it.
Sorry -- I just reread your problem and realize you have to choose the amount (not the percent) of increase.
31 2/8 = 30 10/8
30 10/8 - 29 3/8 = 1 7/8
31.25 - 29.375 = 1.875
1.875 / 29.375 = .0638 = 6.38%
Note: the U.S. stock exchanges switched from fractions to decimals 14 years ago.
To find the amount of increase per share, we need to calculate the difference between the selling prices at the beginning and the end of the week.
At the beginning of the week, the stock sold for 29 3/8 per share.
At the end of the week, the stock sold for 31 2/8 per share.
To simplify the fractions, we can convert them to a common denominator of 8.
29 3/8 = (29 * 8 + 3) / 8 = 233 / 8
31 2/8 = (31 * 8 + 2) / 8 = 250 / 8
Now we can calculate the difference:
Amount of increase = (250 / 8) - (233 / 8)
= (250 - 233) / 8
= 17 / 8
To convert the improper fraction to a mixed fraction, we can divide the numerator (17) by the denominator (8):
17 ÷ 8 = 2 remainder 1
So the amount of increase per share is 2 1/8.
Therefore, the correct answer is B. 2 1/8.
To find the amount of increase per share, we need to calculate the difference between the selling price at the end of the week and the selling price at the beginning of the week.
First, let's convert the mixed numbers into improper fractions:
29 3/8 = (29 * 8 + 3)/8 = 235/8
31 2/8 = (31 * 8 + 2)/8 = 250/8
Next, subtract the initial selling price from the final selling price:
250/8 - 235/8 = 15/8
Now, we need to simplify the fraction 15/8:
15/8 = (15 ÷ 1)/(8 ÷ 1) = 15/8
The simplified fraction 15/8 is equal to 1 7/8.
Therefore, the correct answer is option C) 1 7/8, which represents the amount of increase per share.