Question

Tessa bought stock in a restaurant for $278.00. Her stock is now worth $391.98. What is the percentage increase of the value of Tessa's stock?

Answer 1

There has been a 41% increase in the value of Tessa's stock.

Explanation:

The formula for a change in values is:

`p = (N - O)/O * 100`

Where:

`p` is the percentage of change - what we are solving for in this problem
`N` is the New Value - $391.98 for this problem
`O` is the Old Value - $278.00 for this problem

Substituting and calculating gives:

`p = (391.98 - 278.00)/278.00 * 100`

`p = (113.98)/278.00 * 100`

`p = 11398/278.00`

`p = 41`