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The share price of a bank decreased by 5% on the 15th of November, but increased by 10% of the next day. What was the overall rate of loss or gain?

The share price of a bank decreased by 5% on the 15th of November, but increased by 10% of the next day. What was the overall rate of loss or gain? Correct Answer 4.58% gain

Let the initial share price be S. Decreased share price = S - 5% of S = 0.95S Increased share price = 0.95S + 10% of 0.95S = 1.045S So, gain percentage = (1.045S - S) / S x 100% = 4.5%

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