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Market Value

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Manager
Joined: 08 Jul 2009
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Market Value [#permalink]  31 Jul 2009, 18:50
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The market value of a certain machine decreased by 30 percent of its purchase price each year. If the machine was purchased in 1982 for its market value of $8,000, what was its market value two years later? (A)$8,000
(B) $5,600 (C)$3,200
(D) $2,400 (E)$800
Senior Manager
Joined: 08 Jan 2009
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Re: Market Value [#permalink]  31 Jul 2009, 19:18
I will go with C.

The market value of a certain machine decreased by 30 percent of its purchase price each year.

So in 1992, purchase price = market value = 8000$30 % * P.P = 2400 decersed amount = 80000 - ( 2400 *2 ) = 3200$
Manager
Joined: 14 Apr 2008
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Re: Market Value [#permalink]  01 Aug 2009, 05:20
c
but question is not clear wheather to existing purchase price
Intern
Status: Applying
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Re: Market Value [#permalink]  01 Aug 2009, 13:09
[EDIT - REMOVED BY USER]

Last edited by nplaneta on 17 Jun 2012, 16:41, edited 1 time in total.
Manager
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Re: Market Value [#permalink]  03 Aug 2009, 21:51
The question is not clear.
Quote:
decreased by 30 percent of its purchase price each year
?????

1) 8000-30%=5600 First year.
2) 5600-30%=3920 Second year. No such answer!

or

1)8000*30%=2400
Re: Market Value   [#permalink] 03 Aug 2009, 21:51
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