Elementary Algebra

Published by Cengage Learning
ISBN 10: 1285194055
ISBN 13: 978-1-28519-405-9

Chapter 4 - Proportions, Percents, and Solving Inequalities - 4.2 - Percents and Problem Solving - Problem Set 4.2: 53

Answer

The percent change in the price of a share is 520%. It is a percent increase.

Work Step by Step

To find the percent change, we use the following formula: percent change = $\frac{New\ amount\ -\ Original\ amount}{Original\ amount}$ $\times$ 100% The original price was 24 dollars per share. The new price became 148.80 dollars per share. Substituting these values into the formula yields: percent change = $\frac{148.80\ -\ 24}{24}$ $\times$ 100% percent change = $\frac{124.80}{24}$ $\times$ 100% percent change = 5.2 $\times$ 100% percent change = 520% Because the percent change is a positive number, it is a percent increase.
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