Problem

If $\$ 34.09$ was the initial price of shares for a company and $\$ 33.57$ was the final value, what was the percent change in the price of the shares? Indicate a loss with a negative percent change. Note: Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. For example $34.56 \%$ Percentage change $=0.00 \%$

Solution

Step 1 :Given that the initial price of shares for a company was \$34.09 and the final value was \$33.57, we are to find the percent change in the price of the shares.

Step 2 :The formula to calculate the percentage change is given by: \[\text{Percentage change} = \frac{\text{Final value} - \text{Initial value}}{\text{Initial value}} \times 100\]

Step 3 :Substituting the given values into the formula, we get: \[\text{Percentage change} = \frac{33.57 - 34.09}{34.09} \times 100\]

Step 4 :Solving the above expression, we find that the percentage change is -1.53.

Step 5 :Final Answer: The percent change in the price of the shares is \(\boxed{-1.53 \%}\). This indicates a loss in the value of the shares.

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Source: https://solvelyapp.com/problems/17898/

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