15. When the stock market opened yesterday, the price of a share of stock X was 10.5. When the market closed, the price was 11.25. Of the following, which is closest to the percent increase in the price of stock X?
(A) 0.5%
(B) 1.0%
(C) 6.7%
(D) 7.1%
(E) 7.5%
Answer: D
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Solution:
ReplyDeletePrice increased = 11.25 – 10.50 = 0.75
Hence percent increase in share price = 0.75 * 100 / 10.50 = 7.143 % = 7.1%