Answer:
A. $ 24 7/8
Step-by-step explanation:
GIVEN: A stock starts the day at $27 3/8 per share.
Share drops $2 1/2 during the day.
To Find : Closing value
Solution : first we need to find how many 1/8 are there in 1/2
So, [tex]\frac{\frac{1}{2} }{\frac{1}{8} } =4[/tex]
when share drops by $2 then share will be :
$27 - $2 =$25
and [tex]\frac{3}{8} - 4(\frac{1}{8})[/tex]
⇒[tex]\frac{3}{8} - \frac{4}{8}[/tex]
⇒[tex]\frac{-1}{8}[/tex]
So, [tex]25-\frac{1}{8}[/tex]
⇒[tex]24\frac{7}{8}[/tex]
So, its closing value is [tex]24\frac{7}{8}[/tex].
