The price of a certain stock increased by 0.25 of 1 percent on a certain day. By what fraction...

Question

The price of a certain stock increased by 0.25 of 1 percent on a certain day. By what fraction did the price of the stock increase that day?

GMAT Panda · Accepted Answer

The stock price increased by 1/400, so the correct answer is Choice B. We first multiply 0.25 by 1% to find the percentage increase. 0.25 1% = 0.25% We next express this percentage as a fraction of 1 by dividing by 100. 0.25% = 0.25/100 We then write 0.25 as a fraction and combine it with the division by 100. 0.25 = 25/100 0.25/100 = 25/100100 = 25/100 1/100 We simplify the resulting fraction by canceling the common factor. = 2525 4 100 = 1/400

Explanation	Calculations	Help
$We first multiply 0.25 by 1% to find the percentage increase.$	$0.25 \times 1% = 0.25%$
$We next express this percentage as a fraction of 1 by dividing by 100.$	$0.25% = \frac{0.25}{100}$
$We then write 0.25 as a fraction and combine it with the division by 100.$	$0.25 = \frac{25}{100} \frac{0.25}{100} = \frac{\frac{25}{100}}{100} = \frac{25}{100} \times \frac{1}{100}$
$We simplify the resulting fraction by canceling the common factor.$	$= \frac{25}{25 \times 4 \times 100} = \frac{1}{400}$

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