I have a funny question but it confuses me totally!
Say you buy a stock for $10 and it went up to $12 that means you gained 20%.
why not (12-10)/12=.1666?
What does each one mean and which is more accurate? I am asking because I got this wrong…
The exchange rate for Australian dollars per British pound (AUD/GBP) was 1.4800 five years ago and is 1.6300 today. The percent change in the Australian dollar relative to the British pound is closest to:
A) appreciation of 10.1%. B) depreciation of 9.2%. C) depreciation of 10.1%.