The percentage increase of the value of Tessa's stock is 22%
Step-by-step explanation:
The percentage of increase = [tex]\frac{New-old}{old}[/tex] × 100%, where:
Tessa bought stock in a restaurant for $278.00.
Her stock is now worth $339.16
We need to find the percentage of increase of the value of
Tessa's stock
∵ The initial value of the stock = $278.00
∴ The value of the stock after increasing = $339.16
- Substitute these values in the rule above
∴ The percentage of increasing = [tex]\frac{339.16-278}{278}[/tex] × 100%
∴ The percentage of increasing = 0.22 × 100%
∴ The percentage of increasing = 22%
The percentage increase of the value of Tessa's stock is 22%
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