A share price starts at GBP 250, rises by 20%, and then falls by 20% of its new value. What is the price after both changes?
Answer and explanation
Correct answer: A. GBP 240
- Step 1: After the rise: 250 x 1.2 = 300. Step 2. After the fall: 300 x 0.8 = 240 pounds. Answer: GBP 240. Why not the others: GBP 250 treats the changes as a net 0% on the starting price; GBP 300 stops after the rise; GBP 280 takes off 20 pounds instead of 20%.
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