SOLUTION: kristin bought shares of a stock valued at $48.24. If the stock price soared to $66.33, find the percent increase in the value of the stock.

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: kristin bought shares of a stock valued at $48.24. If the stock price soared to $66.33, find the percent increase in the value of the stock.      Log On


   

Question 158348: kristin bought shares of a stock valued at $48.24. If the stock price soared to $66.33, find the percent increase in the value of the stock.
Answer by jojo14344(1513) About Me  (Show Source):
You can put this solution on YOUR website!
What's the difference?
66.33-48.24=18.09
So let x= percent increase of the stock
%28x%29%2848.24%29=18.09
cross%2848.24%29%28x%29%2Fcross%2848.24%29=18.09%2F48.24
x=0.375%2A100=37.5% increase
To check, add 37.5% to $48.24 as an increased:
48.24%2B0.375%2848.24%29
48.24%2B18.09
66.33 , the increase stock share
Thank you,
Jojo