When the stock market opened yesterday, the price of a share of stock X was 10 1/2. When the market closed, the price was 11 1/4. Of the following, which is closest to the percent increase in the price of stock X? Choose the correct choice from the following options.
A) 0.5%
B) 1.0%
C) 6.7%
D) 7.1%
E) 7.5%
General formula for percent increase or decrease, (percent change):   percent=Change/Original∗100   So, the percent increase in the price of stock X is (45/4−21/2)/(2/12)∗100=50/7   Answer: 7.1%.
<result>D</result>
When the stock market opened yesterday, the price of a share of stock X was 10 1/2. When the market closed, the price was 11 1/4. Of the following, which is closest to the percent increase in the price of stock X?