Question

At the beginning of the day stock XYZ opened at 3.15. At the end of the day it closed at 2.87. What is the rate of change of stock XYZ.

A) 4.1%
B) -8.9%
C) 9.8%
D) -0.09%

Answer 1

The correct answer is B) -8.9%

The rate of change for any problem is always determined using the following equation.

`(NEW - OLD)/(OLD) * 100`

In this case, the old value is 3.15 and the new value is 2.87. SO we use these in the equation to get the answer.

`(NEW - OLD)/(OLD) * 100`

`(2.87 - 3.15)/(3.15) * 100`

`(-.28)/(3.15) * 100`

-.088889 * 100

-8.9%