Question

A share of stock sold for $50 on Monday. On Tuesday it lost 5% of its Monday’s value. On Wednesday it lost 10% of its Tuesday’s value. On Thursday it lost 5% of its Wednesday’s value. What percent increase would the share of stock have to have on Friday to achieve its Monday’s value of $50?

Answer 1

50 * .05 = 2.50
50 - 2.50 = 47.50

47.50 * 0.1 = 4.75
47.50 - 4.75 = 42.75

42.75 * 0.05 = 2.14
42.75 - 2.14 = 40.61

50 - 40.61 = 9.39
9.39/40.61 = 0.2312 = 23.1%

Check my figures.

Answer 2

My answer was 23.1 % also.