calculation on bond price

[vikasmahajan]

sorry for the dumb quetsion, but why did we divide 12.75 by 32? I am sure I am missing something but thought would confirm from you.

Thanks

 

[ShaktiRathore]

Treasury bond prices are quoted 32nds of a dollar. In normal market conventions the normal fractions used is 1/32 for treasury secs . Decimal point separates the full dollar portion of price from the 32nds of a dollar.So we need to divide by 32.
thanks