Question

message A local hairdresser bought 450 shares of a cosmetics corporation for $33.50 per share. He sold the shares for $39.01 per share. What was the percent increase in the price per share? Round to the nearest tenth of a percent. 16.4% 33.5% .164% 5.51%

Answer 1

A) 16.4%

Explanation:

First, identify what you know:

1) A local hairdresser bought 450 shares of a cosmetic corporation

2) He/she purchased each share for $33.50

3) He/she then sold each share for $39.01

In order to solve this problem, we need to calculate the percent increase between $33.50 and $39.01. To do this, we begin my subtracting the original price by the new price.

$39.01 - $33.50 = $5.51

So, each share increased by $5.51! Now, we need to divide the difference of the two numbers by the original price.

$5.51/$33.50 = approximately 0.164

Now, we just have to multiply our number, by 100, to find the percent increase between $33.50 and $39.01.

0.164 x 100 = 16.4%

Hope this helps! :)