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At the end of each week, the price of a garment was reduced

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Eternal Intern
Joined: 07 Jun 2003
Posts: 470
Location: Lone Star State
Followers: 1

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At the end of each week, the price of a garment was reduced [#permalink]  01 Aug 2003, 07:02
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At the end of each week, the price of a garment was reduced by 25 percent of its price during that week. If p was the price of the garment at the beginning of the first week, then in terms, of p, what was the price of the garment at the beginning of the 5th week?

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Ride em cowboy

Manager
Joined: 03 Jun 2003
Posts: 84
Location: Uruguay
Followers: 1

Kudos [?]: 0 [0], given: 0

I think it is p-(p*0.25^4)

or p*(1-0.25^4)

Stolyar p*0.25^4 is the discount price not the resulting price. Am I correct?
GMAT Instructor
Joined: 07 Jul 2003
Posts: 770
Location: New York NY 10024
Schools: Haas, MFE; Anderson, MBA; USC, MSEE
Followers: 13

Kudos [?]: 52 [0], given: 0

MBA04 wrote:
I think it is p-(p*0.25^4)

or p*(1-0.25^4)

Stolyar p*0.25^4 is the discount price not the resulting price. Am I correct?

Stoylar is correct and youare wrong. You are applying the 25% discount to each resulting discount when you need to apply it to the price.
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AkamaiBrah
Former Senior Instructor, Manhattan GMAT and VeritasPrep
Vice President, Midtown NYC Investment Bank, Structured Finance IT
MFE, Haas School of Business, UC Berkeley, Class of 2005
MBA, Anderson School of Management, UCLA, Class of 1993

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