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The average price of an antique car increases over the years. If from

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Bunuel
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The average price of an antique car increases over the years. If from [#permalink] New post   21 Jun 2016, 03:09
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The average price of an antique car increases over the years. If from 1990 to 1996, the price of the car increased by 13% and from 1996 to 2001 it increased by 20%, what is the price of the car in 2001 if the price in 1990 was $11,500?

A. $15,594.
B. $15,322.
C. $14,786.
D. $14,543.
E. $12,988.
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Re: The average price of an antique car increases over the years. If from [#permalink] New post   21 Jun 2016, 07:27
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Bunuel wrote:
The average price of an antique car increases over the years. If from 1990 to 1996, the price of the car increased by 13% and from 1996 to 2001 it increased by 20%, what is the price of the car in 2001 if the price in 1990 was $11,500?

A. $15,594.
B. $15,322.
C. $14,786.
D. $14,543.
E. $12,988.


Ofcourse EXACt method is already given above, just another way due to the choices available...

ans is 11500*1.13*1.2 , so a multiple of 3...
Only A is multiple of 3..
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Re: The average price of an antique car increases over the years. If from [#permalink] New post   21 Jun 2016, 04:56
price of the car in 1990 = $11500
from 1990 to 1996
increase = 13%
which is (13*115)
price of the car in 1996= $12995

from 1996 to 2001
increase = 20 %
which is (12995)/5 =2599

price of the car in 2001 = 15594
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Re: The average price of an antique car increases over the years. If from [#permalink] New post   21 Jun 2016, 07:14
11500 *1.13 *1.2 = 15594
option A
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Re: The average price of an antique car increases over the years. If from [#permalink] New post   Updated on: 21 Jun 2016, 07:38
Whenever you have a question in which a value is increased by x% and then increased by y% then the overall effective increase = (x + y + xy/100 ) %

Let's apply the formula in the question.

The effective increase = 13 + 20 + (13×20/100) = 35.6%

This is a little more 33% or 1/3 the original value.

THE QUICKEST WAY TO SOLVE THIS QUESTION IS TO USE APPROXIMATION.

11500 + 1/ 3 (12000) = 15500

Therefore option A is the answer.

I selected 12000 because it's value is a little more 11500 and it's easier to divide by 3 ( ie to calculate 1/3 or 33%).

Originally posted by LightYagami on 21 Jun 2016, 07:25.
Last edited by LightYagami on 21 Jun 2016, 07:38, edited 1 time in total.
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Re: The average price of an antique car increases over the years. If from [#permalink] New post   21 Jun 2016, 08:35
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Bunuel wrote:
The average price of an antique car increases over the years. If from 1990 to 1996, the price of the car increased by 13% and from 1996 to 2001 it increased by 20%, what is the price of the car in 2001 if the price in 1990 was $11,500?

A. $15,594.
B. $15,322.
C. $14,786.
D. $14,543.
E. $12,988.


11,500 *1.13*1.20= Units digit of this expression would be 4.

Only option A has units digit of 4. And hence is the answer
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Re: The average price of an antique car increases over the years. If from [#permalink] New post   14 Jul 2017, 17:56
Divyadisha wrote:
Bunuel wrote:
The average price of an antique car increases over the years. If from 1990 to 1996, the price of the car increased by 13% and from 1996 to 2001 it increased by 20%, what is the price of the car in 2001 if the price in 1990 was $11,500?

A. $15,594.
B. $15,322.
C. $14,786.
D. $14,543.
E. $12,988.


11,500 *1.13*1.20= Units digit of this expression would be 4.

Only option A has units digit of 4. And hence is the answer


That's a really elegant solution! Quick question, how were you able to tell the units digit from 11,500*1.13*1.2. I'm only familiar with doing that for whole numbers.

I got as far as:
11,500*1.13*1.2 --> 115*113*1.2 and then I wasn't quite sure how to see the unit's digit coming to 4.

Thanks in advance!
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Re: The average price of an antique car increases over the years. If from [#permalink] New post   28 Jan 2020, 07:18
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Bunuel wrote:
The average price of an antique car increases over the years. If from 1990 to 1996, the price of the car increased by 13% and from 1996 to 2001 it increased by 20%, what is the price of the car in 2001 if the price in 1990 was $11,500?

A. $15,594.
B. $15,322.
C. $14,786.
D. $14,543.
E. $12,988.


The price of the car in 2001 is:

11,500 x 1.13 x 1.2 = $15,594

Answer: A
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Re: The average price of an antique car increases over the years. If from [#permalink] New post   06 Feb 2024, 11:24
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Re: The average price of an antique car increases over the years. If from [#permalink]
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