A Benchmark Market Value Index Is Comprised of Three Stocks

Multiple Choice

A benchmark market value index is comprised of three stocks. Yesterday the three stocks were priced at $12, $20, and $60. The number of outstanding shares for each is 600,000 shares, 500,000 shares, and 200,000 shares, respectively. If the stock prices changed to $16, $18, and $62 today respectively, what is the 1-day rate of return on the index?

A) 5.78%
B) 4.35%
C) 6.16%
D) 7.42%