Question #cd5b3

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Answer 1 · 2017-07-31T16:52:04

See a solution process below:

The formula for calculating the percent change in a value between two points in time is:

$p = \frac{N - O}{O} \cdot 100$ $p = (N - O)/O *100$

Where:

$p$ $p$ is the percent change - what we are solving for in this problem.

$N$ $N$ is the New Value - $36.00 per share in this problem.

$O$ $O$ is the Old Value - $90.00 per share in this problem.

Substituting and solving for $p$ $p$ gives:

$p = \frac{36 - 90}{90} \cdot 100$ $p = (36 - 90)/90 * 100$

$p = - \frac{54}{90} \cdot 100$ $p = -54/90 * 100$

$p = - \frac{5400}{90}$ $p = -5400/90$

$p = - 60$ $p = -60$

The stock changed by -60% or decreased by 60%.