The depreciated amount of a declining stock is $8,550.70. What was the purchase price before it declined at 7.53% after two years?
A. $10,000
B. $11,000
C. $12,000
D. $13,000

Question

The depreciated amount of a declining stock is $8,550.70. What was the purchase price before it declined at 7.53% after two years?
        A.	$10,000
	B.	$11,000
	C.	$12,000
	D.	$13,000

jdoe0001 · Answer

if the stock is currently  $8,550.70  what was it before?

well, we know that  $8,550.70 represents the original stock price, MINUS 7.53%
so  $8,550.70 is not really 100%, but 100% - 7.53% of the original stock price

so  $8,550.70 is really the 92.47% from the original stock price

well, what was the original stock price?   well, let's say it was "x", thus $\large \begin{array}{ccllll}
quantity&percentage\
\hline\
x&100\
8,550.70&92.47
\end{array}\bf \implies \cfrac{x}{8,550.70}=\cfrac{100}{92.47}$

anonymous · Answer

So @jdoe0001 what does that make it?

anonymous · Answer

I don't get it.

jdoe0001 · Answer

solve for "x"

anonymous · Answer

How do i do that

jdoe0001 · Answer

well, there's an assumption you'd know how to simplify linear equations

either way is not any of the choices

anonymous · Answer

sorry im really confused. And i have to go.