Solve the problem.
-On Monday, an investor bought 100 shares of stock. On Tuesday, the value of the shares went up 6%. How much did the investor pay for the 100 shares if he sold them Wednesday morning for $1378.00?
A) $1350.00
B) $1460.68
C) $1300.00
D) $1328.00

Question

Quizplus · Accepted Answer

The investor sold the shares for $1378 after they increased by 6%. To find the original price, divide $1378 by 1.06 (100% + 6% = 106%, or 1.06 in decimal form). $1378 / 1.06 = $1300.00.

Solve the Problem. -On Monday, an Investor Bought 100 Shares of Stock. on of Stock