Asked by Arlissa Montano on Apr 30, 2024
Verified
The stock market index decreased this month by one-thirteenth of last month's index. If this month's index is 2,400, what was last month's index?
A) 2,585
B) 2,320
C) 2,483
D) 2,600
E) 2,215
Stock Market Index
A statistical measure that shows changes occurring in the stock market by tracking selected stocks.
Decreased
Reduced or diminished in size, quantity, or level.
- Gain proficiency in performing percentage calculations and employing them in various investment and financial environments.
Verified Answer
ZK
Zybrea KnightMay 05, 2024
Final Answer :
D
Explanation :
The decrease was one-thirteenth of last month's index, so this month's index is 12/13 of last month's index. To find last month's index, divide this month's index by 12/13: 2400 / (12/13) = 2600.
Learning Objectives
- Gain proficiency in performing percentage calculations and employing them in various investment and financial environments.