If a stock's price is $300 and it decreases by 20%, what is the new price?

If a stock's price is $300 and it decreases by 20%, what is the new price?

Step 1: Identify the old price of the stock, which is $300.
Step 2: Determine the percentage decrease, which is 20%.
Step 3: Convert the percentage decrease into a decimal by dividing by 100. So, 20% becomes 20/100 = 0.2.
Step 4: Calculate the amount of decrease by multiplying the old price by the decimal. So, 0.2 * 300 = $60.
Step 5: Subtract the amount of decrease from the old price. So, $300 - $60 = $240.
Step 6: The new price of the stock after the decrease is $240.

Percentage Decrease – Understanding how to calculate a decrease in value based on a percentage of the original amount.
Basic Arithmetic – Applying basic arithmetic operations to find the new value after a percentage decrease.