Find all School-related info fast with the new School-Specific MBA Forum

It is currently 25 Oct 2014, 20:36

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

The market value of a certain machine decreased by 30 percent of its

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
Senior Manager
Senior Manager
avatar
Joined: 16 Apr 2009
Posts: 251
Schools: Ross
Followers: 1

Kudos [?]: 28 [0], given: 10

The market value of a certain machine decreased by 30 percent of its [#permalink] New post 12 Aug 2009, 06:29
2
This post was
BOOKMARKED
00:00
A
B
C
D
E

Difficulty:

  25% (medium)

Question Stats:

88% (02:20) correct 13% (02:59) wrong based on 19 sessions
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
[Reveal] Spoiler: OA

_________________

Keep trying no matter how hard it seems, it will get easier.

Senior Manager
Senior Manager
avatar
Joined: 25 Jun 2009
Posts: 313
Followers: 2

Kudos [?]: 78 [0], given: 6

Re: The market value of a certain machine decreased by 30 percent of its [#permalink] New post 12 Aug 2009, 07:00
vannu wrote:
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
[Reveal] Spoiler:
C



C.

Market value in 1982= $ 8000
Market value in 1983 = $ 8000- ($ 8000 x 30/100) = 8000-2400= $ 5600
Market value in 1984 = Market value in 1983 - (30 % of $8000)= 5600-2400 = $3200
SVP
SVP
User avatar
Joined: 05 Jul 2006
Posts: 1541
Followers: 5

Kudos [?]: 85 [0], given: 39

Re: The market value of a certain machine decreased by 30 percent of its [#permalink] New post 12 Aug 2009, 07:11
nitishmahajan wrote:
vannu wrote:
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
[Reveal] Spoiler:
C



C.

the key is (decrease by 30% of its PURCHASE PRICE)
Senior Manager
Senior Manager
User avatar
Joined: 21 Jul 2009
Posts: 266
Location: New York, NY
Followers: 1

Kudos [?]: 40 [0], given: 23

Re: The market value of a certain machine decreased by 30 percent of its [#permalink] New post 09 Sep 2009, 13:22
Tricky! This is more like a CPA exam question...
CEO
CEO
User avatar
Joined: 09 Sep 2013
Posts: 2871
Followers: 208

Kudos [?]: 43 [0], given: 0

Premium Member
Re: The market value of a certain machine decreased by 30 percent of its [#permalink] New post 05 Oct 2014, 21:49
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
_________________

GMAT Books | GMAT Club Tests | Best Prices on GMAT Courses | GMAT Mobile App | Math Resources | Verbal Resources

VP
VP
User avatar
Status: The Best Or Nothing
Joined: 27 Dec 2012
Posts: 1088
Location: India
Concentration: General Management, Technology
WE: Information Technology (Computer Software)
Followers: 6

Kudos [?]: 311 [0], given: 170

Re: The market value of a certain machine decreased by 30 percent of its [#permalink] New post 08 Oct 2014, 01:13
In 1 year, price decreases 30%; so in 2 years, price will decrease 60%

60% decrease means its current price is 40% of purchase price

= 8000 * \frac{40}{100} = 3200

Answer = C
_________________

Kindly press "+1 Kudos" to appreciate :)

Re: The market value of a certain machine decreased by 30 percent of its   [#permalink] 08 Oct 2014, 01:13
    Similar topics Author Replies Last post
Similar
Topics:
2 Experts publish their posts in the topic If 30 percent of the members of a certain organization are MensaNumber 2 04 Jun 2014, 01:29
Experts publish their posts in the topic Last year a certain bond yielded 5 percent of its face value rxs0005 2 31 Jan 2011, 10:04
Experts publish their posts in the topic If the value of a piece of property decreases by 10 percent johngrg 6 08 Aug 2007, 06:22
1 The market value of a certain machine decreased by 30 sidbidus 3 27 Jun 2007, 08:57
The market value of a certain machine decreased by 30 Amit05 1 18 May 2007, 21:44
Display posts from previous: Sort by

The market value of a certain machine decreased by 30 percent of its

  Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.