A stock opened at 62 1/4 points and closed at 57 5/8 points. Find the change in the stock price
4 10/16
My, this is an old question. Stock prices have been quoted in decimals, not fractions, for 12 years.
Your answer is right.
Okay. Thank you Ms. Sue!
You're welcome, Jerald.
To find the change in the stock price, you need to calculate the difference between the opening price and the closing price.
First, let's convert the mixed numbers into improper fractions:
The opening price is 62 1/4 points, which is equal to (62 * 4 + 1) / 4 = 249 / 4.
The closing price is 57 5/8 points, which is equal to (57 * 8 + 5) / 8 = 461 / 8.
Now, subtract the closing price from the opening price:
249 / 4 - 461 / 8
To perform this calculation, we first need to find a common denominator for 4 and 8, which is 8. We can rewrite 249/4 as (249 * 2) / (4 * 2) = 498/8.
So we have:
498 / 8 - 461 / 8
Subtracting the numerators:
(498 - 461) / 8 = 37 / 8.
Therefore, the change in the stock price is 37/8, which can also be expressed as 4 5/8 or 4.625 points.