If you bought a stock last year for a price of $98, and it has gone down 17% since then, how much is the stock worth now, to the nearest cent?

Question

If you bought a stock last year for a price of $98, and it has gone down 17% since then, how much is the stock worth now, to the nearest cent?

Answer 1

It is now worth (100% - 17%) of its original value, which is 83% of its original value. Multiply the original value by 0.83 and that will give your answer.