The formula for percentage increase I (given as a decimal) of an investment is I = S - P/P, where P is the purchase price and S is the sale price. You sell a stock at a price of $75, earning a percentage increase of 25%. What was the purchase price of the stock?
Added by Elizabeth D.
Step 1
Step 1: Understand the formula for percentage increase, which is given as \(I = \frac{S - P}{P}\), where \(I\) is the percentage increase (as a decimal), \(P\) is the purchase price, and \(S\) is the sale price. Show more…
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