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Bill buys a stock that decreases by 20% on the first day, and then on the second day the stock increases by 30% of its value at the end of the first day. What was the overall percent increase in Bill's stock over the two days?
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Respuesta :

The over all percent increase in Bill's stock over the two days is 4%

Step-by-step explanation:

The given is:

  • Bill buys a stock that decreases by 20% on the first day
  • On the second day the stock increases by 30% of its value at the end of the first day

We need to find what was the overall percent increase in Bill's stock over the two days

Assume that Bill buys the stock by $x

∵ Bill buys the stock by $x

∵ The stock decreases by 20% on the first day

- Find the 20% of x

∵ 20% × x = [tex]\frac{20}{100}[/tex] × x = 0.2 x

∴ The cost at the end of the 1st day = x - 0.2 x = 0.8 x

∵ The stock increases by 30% of its value at the end of the 1st day

- Find the 30% of 0.8 x

∵ 30% × 0.8 x = [tex]\frac{30}{100}[/tex] × 0.8 x = 0.3 × 0.8 x = 0.24 x

∴ The cost at the end of the 2nd day = 0.8 x + 0.24 x = 1.04 x

To find the percentage of increased find the increasing amount and divide it by the original cost, then multiply the quotient by 100%

∵ The increasing amount = 1.04 x - x = 0.04 x

∵ The percentage of increase = [tex]\frac{0.04x}{x}[/tex] × 100%

∴ The percentage of increase = 0.04 × 100% = 4%

The over all percent increase in Bill's stock over the two days is 4%

Learn more:

You can learn more about the percentage in brainly.com/question/12960754

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