On the morning of june 4, the stock of nagasaki corporation opened at a price of $33 3⁄8 per share. by noon, the price had risen $4 1⁄4 per share. by the end of the day, the price had fallen $8 7⁄8 per share from the price at noon. what was the closing price for the day?

$28 3/4

Step-by-step explanation:

One way of doing this is to sum up the increases and the decreases of the price, separately.  One then adds the increases to the beginning price ($33 3/8) and subtracts the decreases from this sum:

$33 3/8 + ($4 1/4) - ($8 7/8),      where $33 3/8 is the beginning price,

                                                    $4 1/4 is the sum of the price increases

                                                     for the day, and $8 7/8 is the sum of the

                                                     price decreases for the day.

Then we have:

$33 3/8 + $4 2/8 - $ 8 7/8

Here we need sum up the beginning price and the price increase for the day first:

$33 3/8 + $4 2/8 = $37 5/8

We cannot subtract $8 7/8 from $37 5/8 without borrowing.  Borrowing, we get:

$36 13/8

and from this we subtract $8 7/8:

$36 13/8

- $  8 7/8

 $28 6/8

This can be reduced to $28 3/4.   This was the closing price.

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