It is theorized that the price per share of a stock is inversely proportional to the prime (interest) rate. in january 2010, the price per share of a certain company's stock was $193.04 and the prime rate was 2.75%. the prime rate rose to 5.50% in march 2010. what was the price per share in march 2010 if the assumption of inverse proportionality is correct?

price per share in March is $96

Explanation:

given data

January price per share = $193.04

January prime rate = 2.75%

march prime rate = 5.50%

to find out

What was the price per share in March

solution

we know that here price is proportional to prime rate

Price ∝   ........1

so price = k ×        ...............2

k is constant here

so put all value for january

193.04 = k ×  

k = 5.28

so for  march price per share will be by equation 2

price = 5.28 ×  

price = 96

so  price per share in March is $96

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