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Question

A stock loses 10% of its value on Monday. On Tuesday it loses 20% of the value it had at the end of the day on Monday. What is the overall percent loss in value from the beginning of Monday to the end of Tuesday? Enter the answer as a percent.

Accepted Answer

If its initial value was x, after Monday, its value is .9x, and after a further 20% loss, its value becomes .8 .9x = .72x, making for a total loss of 28%.