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

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The market value of a certain machine decreased by 30 percent of its [#permalink]  12 Aug 2009, 06:29
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83% (02:21) correct 17% (02:01) wrong based on 72 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

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Re: The market value of a certain machine decreased by 30 percent of its [#permalink]  12 Aug 2009, 07:00
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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
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Re: The market value of a certain machine decreased by 30 percent of its [#permalink]  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)
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Re: The market value of a certain machine decreased by 30 percent of its [#permalink]  09 Sep 2009, 13:22
Tricky! This is more like a CPA exam question...
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Re: The market value of a certain machine decreased by 30 percent of its [#permalink]  05 Oct 2014, 21:49
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Re: The market value of a certain machine decreased by 30 percent of its [#permalink]  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

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

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Re: The market value of a certain machine decreased by 30 percent of its   [#permalink] 08 Oct 2014, 01:13
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