Question

You sell 600 shares of AVG Technologies (AVG). You purchased the stock at $2.99 per share and sold it at $0.88 per share. What was the percent decrease in the stock? Round to the nearest whole percent.

71%

29%

42%

24%

Answer 1

71%

Explanation:

To calculate the percent decrease in the stock, we can use the following formula:

Percent decrease = ((Original value - New value) / Original value) * 100

Given:

Original value (purchase price) = $2.99 per share

New value (selling price) = $0.88 per share

Plugging in the values into the formula:

Percent decrease = ((2.99 - 0.88) / 2.99) * 100

Percent decrease = (2.11 / 2.99) * 100

Percent decrease = 70.57%

Rounding to the nearest whole percent, the correct answer is 71%.