Respuesta :
As per the information in the given question, the morning opening price the share of Nagasaki Corporation is [tex] 33\frac{3}{8} [/tex]. This can be rewritten as:
[tex] 33\frac{3}{8}=\frac{264+3}{8}=\frac{267}{8} [/tex] .........(Equation 1)
Now, by afternoon, the share price of Nagasaki Corporation increases by [tex] 4\frac{1}{4} [/tex]. Thus, we have to add this increase to the opening share to get the actual share price in the afternoon. Thus, we will have to add [tex] 4\frac{1}{4} [/tex] and (Equation 1) to find the share price in the afternoon.
We know that [tex] 4\frac{1}{4} [/tex] can be rewritten as [tex] 4\frac{1}{4}=\frac{17}{4} [/tex]. Thus, adding [tex] 4\frac{1}{4} [/tex] to (Equation 1) means effectively adding [tex] \frac{17}{4} [/tex] to (Equation 1) which is:
[tex] \frac{267}{8}+\frac{17}{4} =\frac{267}{8}+\frac{17}{4}\times \frac{2}{2} [/tex]
(we converted the denominator of [tex] \frac{17}{4} [/tex] to 8 by multiplying it by 2 which in turn meant multiplying the numerator by 2 too.)
[tex] \therefore \frac{267}{8}+\frac{17}{4}=\frac{267}{8}+\frac{34}{8}=\frac{301}{8} [/tex]
Thus, [tex] \frac{301}{8} [/tex] is the afternoon price.
Now, the closing price will be the fall in the afternoon price which is [tex] 8\frac{7}{8}=\frac{71}{8} [/tex].
Thus, Closing Price=Afternoon Price - Fall in the Afternoon Price
Closing Price=[tex] \frac{301}{8}-\frac{71}{8}=\frac{230}{8}=28\frac{3}{4} [/tex]
Therefore, the closing price per share of the Nagasaki Corporation for the day was [tex] 28\frac{3}{4} [/tex]
