Question

I need helping find Company C stock price last year

Answer 1

According to the problem, the stock price this year represents 8% higher than last year, which means it represents 108% (1.08).

So, we just have to solve the following proportion to find the stock price for last year.

$\begin{gathered} \frac{97.64}{1.08}=\frac{x}{1} \\ \end{gathered}$

Let's solve for x

$x=90.41$

Hence, the stock price last year was around $90.41.