A pharmaceutical company’s stock price was $50.33 on Monday. On Tuesday, the price went up $2.35. On Wednesday, the price decreased from Tuesday’s price by $1.07. On Thursday, the price went up $0.75 from Wednesday’s price. Which of the following was the final price on Thursday?
$54.50
$53.43
$52.36
$50.86
Correct Answer : C
We need to find the price changes in each day of the week in order to find the price of the stock on Thursday.
Monday’s price was $50.33
Tuesday’s price went up by $2.35 from Monday’s price. The price was $(50.33+2.35)=$52.68
Wednesday’s price decreased by $1.07 from Tuesday’s price, and so the price of the stock was $(52.68-1.07)=$51.61
Thursday’s price increased by $0.75 from Wednesday’s price, which was $(51.61+0.75)=$52.36
Therefore, the price of the stock on Thursday was $52.36.
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We need to find the price changes in each day of the week in order to find the price of the stock on Thursday.
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Wednesday’s price decreased by $1.07 from Tuesday’s price, and so the price of the stock was $(52.68-1.07)=$51.61
Thursday’s price increased by $0.75 from Wednesday’s price, which was $(51.61+0.75)=$52.36
Therefore, the price of the stock on Thursday was $52.36.
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Explanation
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