Problema Solution
In 2002, the price of General Electric's stock dropped 8%.
p= price of General Electric stock.
What is the price of General Electric stock after the drop?
Answer provided by our tutors
p is price before drop
an 8% decrease is a drop of
0.08*p
Price after the drop is
pa = p - 0.08p
you can simplify
pa = p*(1-0.08)
pa = 0.92*p