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# The market value of a certain machine decreased by 30

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Joined: 09 Aug 2006
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The market value of a certain machine decreased by 30 [#permalink]  18 May 2007, 21:44
1. 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
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Joined: 02 May 2007
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Re: Market price [#permalink]  18 May 2007, 22:25
Amit05 wrote:
1. 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

(C) it is

8,000 - 2(0.3*8,000) = 3,200
Re: Market price   [#permalink] 18 May 2007, 22:25
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