+4623 During a company's first full year in business, the price of oil increased 50%. In the second year of business, the price of oil went down50% from its price at the beginning of that year. Its price at the end of the second year is what percent of its price at the beginning of the first year?
Let us assume the price of oil at BEGINNING of 1st full year in business =$100
The price of oil at the END of the first year in business =$100 x 1.5 =$150
The price of oil at the BEGINNING of the 2nd year in business =$150
The price of oil at the END of the second year in business =$150 x 0.5=$75
$75/$100 =0.75 x 100 =75% - percentage of oil price at the END of 2nd year compared to the price of oil at the BEGINNING of 1st.year.
