Stock Index Performance On November 27,2007,The Dow Jones Industrial Average closed at 12,958.44,which was up 215.04 that day.What was the return (in percent)of the stock market that day?
A)-0.017 percent
B)+0.017 percent
C)-1.69 percent
D)+1.69 percent

Question

Quizplus · Accepted Answer

To calculate the return percentage, we need to use the following formula: 
(Return/Initial Price) x 100 
In this case, the initial price is the closing price of the previous day (November 26, 2007), which was 12,743.44. 
So, the return percentage on November 27, 2007 is: 
((12,958.44-12,743.44)/12,743.44) x 100 = 1.69% 
Therefore, the answer is D, +1.69 percent.

Stock Index Performance on November 27,2007,The Dow Jones Industrial Average