The price of a technology stock has risen to $9.68 today. Yesterday's price was $9.57. Find the percentage increase. Round your answer to the nearest tenth of a percent
Percentage increase
= (new price-old price)/old price.
Here, new price is $9.68, old price is $9.57.
Pull out your calculator to work it out. Post your answer for checking if you're not sure.
To find the percentage increase, we need to calculate the difference between the current price and yesterday's price, and then divide it by yesterday's price. Finally, we multiply the result by 100 to convert it to a percentage.
The difference between the current price and yesterday's price is found by subtracting yesterday's price from the current price:
$9.68 - $9.57 = $0.11
Dividing this difference by yesterday's price:
($0.11 / $9.57) * 100 = 1.1482 * 100 = 1.1482%
Rounding the answer to the nearest tenth of a percent:
1.1%
Therefore, the percentage increase in the price of the technology stock is 1.1%.