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Last Year the price per share of Company A's stock on March 31 was 25
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24 Jan 2022, 10:09
24 Jan 2022, 10:09
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Last Year the price per share of Company A's stock on March 31 was 25 percent 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%
A. 5%
B. 25%
C. 36%
D. 45%
E. 56%
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Re: Last Year the price per share of Company A's stock on March 31 was 25
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24 Jan 2022, 10:16
24 Jan 2022, 10:16
Carcass wrote:
Last Year the price per share of Company A's stock on March 31 was 25 percent 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%
A. 5%
B. 25%
C. 36%
D. 45%
E. 56%
Since the goal is to find a certain PERCENT (as opposed to finding a certain value), we can assign a nice value to the share price on March 1st
Let's say $100 = the share price on March 1st
The price per share of Company A's stock on March 31 was 25 percent higher than its price per share on March 1
So, the price per share on March 31 = $100 + 25% of $100 = $125
By April 30 the stock's price per share was 20 percent lower than the price per share on March 1
So, the price per share on April 30 = $100 - 20% of $100 = $80
What was the percent decrease in price per share of the stock from March 31 to April 30?
So, we want to find the percent decrease when we go from $125 to $80
Percent decrease = (100)(difference in values)/original value
= (100)(125 - 80)/125
= (100)(45)/125
= (100)(9)/25
= (4)(9)
= 36%
Answer: C
gmatclubot
Re: Last Year the price per share of Company A's stock on March 31 was 25 [#permalink]
24 Jan 2022, 10:16
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