The stock of Company A lost 2% today to $30.38. What was the opening price of the stock in the beginning of the day?

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JeanaShupp JeanaShupp · Answer 1 · 2020-07-01T04:10:52+02:00

Answer: The opening price of the stock at the beginning of the day = $31.

Step-by-step explanation:

Given, The stock of Company A lost 2% today to $30.38.

So,

Closing price = $30.38.

Also as per given, Opening price - 2% of Opening price = $30.38.

⇒ Opening price x (1-0.02) = $30.38 [∵2%=0.02]

⇒ Opening price x (0.98) = $30.38

⇒ Opening price = ($30.38 ) ÷ (0.98)

⇒ Opening price = $31

Hence, the opening price of the stock at the beginning of the day = $31 .

facundo3141592 facundo3141592 · Answer 2 · 2022-02-17T11:41:12+01:00

The opening price of the stock was $31.

The opening price will represent the 100% in this case, so if we say that the opening price is P, we can write:

P = 100%

Now we know that after a decrease of 2%, the new price is $30.38, so we can write:

$30.38 = 98%

Taking the quotient of these two equations, we get:

P/($30.38) = (100%/98%)

Solving for P we get:

P = ($30.38)*(100%/98%) = $31.00

the opening price was $31.

If you want to learn more about percentages, you can read:

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