Question

the price of a technology stock was $9.62 yesterday. today, the price rose to $9.73. find the percentage increase. round your answer to the nearest tenth of a percent.

Explanation:

Step1: Find the increase in price

First, we calculate the difference between today's price and yesterday's price. That is $9.73 - 9.62$.
$9.73 - 9.62 = 0.11$

Step2: Calculate the percentage increase

The formula for percentage increase is $\frac{\text{Increase}}{\text{Original Price}} \times 100\%$. Here, the original price is $9.62$ and the increase is $0.11$. So we calculate $\frac{0.11}{9.62} \times 100\%$.
$\frac{0.11}{9.62} \times 100\% \approx 1.14345\%$

Step3: Round to the nearest tenth

Rounding $1.14345\%$ to the nearest tenth of a percent, we look at the hundredth place. The digit in the hundredth place is 4, which is less than 5, so we round down. So it becomes $1.1\%$.

Answer:

$1.1$