Question

A stock was priced at $12 3/8 per share. It rose in price by $3 1/4 per share. What was its new price?
A)$15 5/8
B)$9 1/4
C)$15 1/3
D)$9 1/8

Answer 1

Option A

The new price is $ $15 \frac{5}{8}$

Solution:

Given that, a stock was priced at $ $12 \frac{3}{8}$ per share.

It rose in price by $ $3 \frac{1}{4}$ per share.

New price = old price + rise in price

Thus to find out the new price, we have to add old price and rise in price

$\text { So, new price }=\ 12 \frac{3}{8}+\ 3 \frac{1}{4}$

$\text { New price }=\frac{12 \times 8+3}{8}+\frac{3 \times 4+1}{4}$

On solving we get,

$\text { New price }=\frac{96+3}{8}+\frac{12+1}{4}$

$\begin{array}{l}{\text { New price }=\frac{99}{8}+\frac{13}{4}=\frac{99+26}{8}} \\\\ {\text { New price }=\frac{125}{8}}\end{array}$

On converting to mixed fraction,

$\begin{array}{l}{\text { New price }=\frac{120+5}{8}} \\\\ {\text { New price }=15 \frac{5}{8}}\end{array}$

Hence, the new price is $15 \frac{5}{8}$, so option A is correct.

Answer 2

Answer:

The correct answer is A)$15 5/8

Step-by-step explanation

Given that, a stock was priced at $  per share.

It rose in price by $  per share.

New price = old price + rise in price

Thus to find out the new price, we have to add old price and rise in price

On solving we get,

On converting to mixed fraction,

Hence, the new price is , so option A is correct.

Hope this helps  :)