The price of a technology stock was $9.83 yesterday. Today, the price fell to $9.70 . Find the percentage decrease. Round your answer to the nearest tenth of a percent.
9.83 - 9.70 = $0.13
0.13 / 9.83 = 0.01322 = 1.3%
To find the percentage decrease in the price of the technology stock, you can use the following formula:
Percentage decrease = ((original price - new price) / original price) * 100
Given that the original price was $9.83 and the new price is $9.70, we can substitute these values into the formula:
Percentage decrease = (($9.83 - $9.70) / $9.83) * 100
Calculating the numerator:
($9.83 - $9.70) = $0.13
Calculating the percentage decrease:
Percentage decrease = ($0.13 / $9.83) * 100 ≈ 1.3
Hence, the percentage decrease in the price of the technology stock is approximately 1.3%.
To find the percentage decrease, you need to follow these steps:
Step 1: Find the difference between the original price and the new price.
Difference = Original price - New price
In this case, the original price was $9.83, and the new price is $9.70.
Difference = $9.83 - $9.70
Step 2: Calculate the percentage decrease by dividing the difference by the original price and multiplying by 100.
Percentage decrease = (Difference / Original price) * 100
Substituting the values:
Percentage decrease = (($9.83 - $9.70) / $9.83) * 100
Step 3: Round your answer to the nearest tenth of a percent.
Let's calculate it:
Percentage decrease = (($9.83 - $9.70) / $9.83) * 100
= ($0.13 / $9.83) * 100
= 0.0132 * 100
= 1.32%
Therefore, the percentage decrease is 1.32% (rounded to the nearest tenth of a percent).