riteshpatnaik wrote:Last Year the price per share of Company A's stock on March 31 was 25percent higher than its price per share on March 1. By April 30 the stock's price per share was 20 percent lower than the price per share on March 1. What was the percent decrease in price per share of the stock from March 31 to April 30?
A.5%
B.25%
C.36%
D.45%
E.56%
I solved it this way
Let the price per stock on March 1 be -100.
Price per share on March 31- 125
Price per share on April 30 - 80/100 * 125 = 100
% decrease = 125-100/100 = 25%. But the answer is C- 36%. Please help
The portion in red does not accurately reflect the following statement:
By April 30 the stock's price per share was 20 percent lower than the price per share on March 1.
Since the price per share on March 1 = 100, and the price per share on April 30 must be 20% lower, the price per share on April 30 = 100 - (20% of 100) = 100 - 20 = 80.
What was the percent decrease in price per share of the stock from March 31 to April 30?
Percent decrease from 125 to 80 = (125-80)/125 * 100 = 45/5 * 4 = 36%.
The correct answer is
C.
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