One of the largest US stock market rises occurred on March 15, 1933. On this day, the Dow Jones Industrial Average opened at 53.84 points and closed at 62.10 points. What was the approximate percent of increase?
See a solution process below:
The formula for calculating the percent change in a value between two points in time is:
Substituting and solving for
The increase for Dow Jones Industrial Average on March 15, 1933 was approximately 15%