The stock of Company A lost 2% today to $30.38. What was the opening price of the stock in the beginning of the day?

Answer: The opening price of the stock at the beginning of the day = $31.

Step-by-step explanation:

Given, The stock of Company A lost 2% today to $30.38.

So,

Closing price = $30.38.

Also as per given, Opening price - 2% of Opening price = $30.38.

⇒ Opening price x (1-0.02) = $30.38 [∵2%=0.02]

⇒ Opening price x (0.98) = $30.38

⇒ Opening price = ($30.38) : (0.98)

⇒ Opening price = $31

Hence, the opening price of the stock at the beginning of the day = $31.