Question
The stock of Company A lost 2% today to $46.55. What was the opening price of the stock in the beginning of the day?
Answers
GPT-4o mini
To find the opening price of the stock, we can set up the problem using the fact that the stock lost 2% to reach $46.55.
Let the opening price be \( x \). Since the stock lost 2%, the closing price can be expressed as:
\[
x - 0.02x = 46.55
\]
This simplifies to:
\[
0.98x = 46.55
\]
Next, we can solve for \( x \):
\[
x = \frac{46.55}{0.98}
\]
Calculating this gives:
\[
x \approx 47.55
\]
Therefore, the opening price of the stock was approximately **$47.55**.
Let the opening price be \( x \). Since the stock lost 2%, the closing price can be expressed as:
\[
x - 0.02x = 46.55
\]
This simplifies to:
\[
0.98x = 46.55
\]
Next, we can solve for \( x \):
\[
x = \frac{46.55}{0.98}
\]
Calculating this gives:
\[
x \approx 47.55
\]
Therefore, the opening price of the stock was approximately **$47.55**.