24. A pharmaceutical company's stock price was $50.33 on Monday. On Tuesday, the price increased by $2.35. On Wednesday, the price decreased by $1.07 from Tuesday's price. On Thursday, the price increased by $0.75 from Wednesday's price. What was the final price on Thursday?
Answer: C
The final price on Thursday was $52.36.
After calculating the changes in the stock price throughout the week, the final price on Thursday is determined to be $52.36.
A) $53.43
This option is incorrect because it does not reflect the correct calculations based on the sequential changes in stock price. After adding and subtracting the respective amounts, the final price does not reach $53.43.
B) $54.50
This option is also incorrect as it overestimates the stock price after considering the increases and decreases throughout the week. The calculations do not support a final price of $54.50.
C) $52.36
This is the correct option. Starting from $50.33, the stock price increased by $2.35 on Tuesday to $52.68, decreased by $1.07 on Wednesday to $51.61, and then increased by $0.75 on Thursday, resulting in a final price of $52.36.
D) $50.85
This option is incorrect as it underestimates the final stock price after the increases. The calculations show that the price after all the adjustments is significantly higher than $50.85.
Conclusion
The correct final price of $52.36 on Thursday is reached through a series of precise calculations that account for both increases and decreases in the stock price. All other options fail to represent the accurate outcome based on the given price changes.