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    Question

    The price of a stock increases by 10% each month for 3

    consecutive months. What is the overall percentage increase in the price of the stock after 3 months?
    A 21% Correct Answer Incorrect Answer
    B 30% Correct Answer Incorrect Answer
    C 31.1% Correct Answer Incorrect Answer
    D 35.4% Correct Answer Incorrect Answer
    E none Correct Answer Incorrect Answer

    Solution

    Let the initial price be 100.   Price after 1st month = 110.   Price after 2nd month = 121.   Price after 3rd month = 133.1.   Overall percentage increase = (133.1 - 100) / 100 × 100 = 33.1%.   The overall percentage increase is 33.1%.

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