Solve the problem.
-On Monday, an investor bought 100 shares of stock. On Tuesday, the value of the shares went up $8 \%$. How much did the investor pay for the 100 shares if he sold them Wednesday morning for $\$ 1620$ ? Round to the nearest dollar if necessary.
A) $\$ 1550$
B) $\$ 1570$
C) $\$ 1500$
D) $\$ 1490$

Question

Quizplus · Accepted Answer

The investor sold the shares for $1620 after they increased in value by 8%. To find the original price, divide $1620 by 1.08. This gives $1500, which is the amount the investor paid for the 100 shares.

Solve the Problem 8%8 \%8% How Much Did the Investor Pay for the 100

Solve the Problem $8 \%$ How Much Did the Investor Pay for the 100