GMAT Question of the Day - Daily to your Mailbox; hard ones only

It is currently 23 May 2019, 10:10

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.

Close

Request Expert Reply

Confirm Cancel

A baseball card decreased in value 20% in its first year and 10% in it

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

 
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 55266
A baseball card decreased in value 20% in its first year and 10% in it  [#permalink]

Show Tags

New post 28 Mar 2016, 02:45
00:00
A
B
C
D
E

Difficulty:

  15% (low)

Question Stats:

80% (00:38) correct 20% (00:43) wrong based on 85 sessions

HideShow timer Statistics

Verbal Forum Moderator
User avatar
V
Status: Greatness begins beyond your comfort zone
Joined: 08 Dec 2013
Posts: 2291
Location: India
Concentration: General Management, Strategy
Schools: Kelley '20, ISB '19
GPA: 3.2
WE: Information Technology (Consulting)
GMAT ToolKit User Reviews Badge CAT Tests
Re: A baseball card decreased in value 20% in its first year and 10% in it  [#permalink]

Show Tags

New post 28 Mar 2016, 03:33
Let the initial value of baseball card = 100
After first year , value of baseball card = (1- 20/100)* 100 = 80
After second year , value of baseball card =(1 - 10/100)* 80 = 72

total percent decrease of the card's value over the two years = (100-72)/100 *100%
=28%
Answer A
_________________
When everything seems to be going against you, remember that the airplane takes off against the wind, not with it. - Henry Ford
The Moment You Think About Giving Up, Think Of The Reason Why You Held On So Long
+1 Kudos if you find this post helpful
Senior Manager
Senior Manager
User avatar
G
Joined: 24 Nov 2015
Posts: 497
Location: United States (LA)
Reviews Badge
Re: A baseball card decreased in value 20% in its first year and 10% in it  [#permalink]

Show Tags

New post 10 Apr 2016, 03:06
consider the initial value of the baseball card as $100
After first year price = 100*0.8 = 80
After second year price = 80 *0.9 = 72
final decrease = [(100 - 72)/100] * 100 = 28%
correct answer - A
Senior Manager
Senior Manager
User avatar
Joined: 20 Aug 2015
Posts: 388
Location: India
GMAT 1: 760 Q50 V44
Re: A baseball card decreased in value 20% in its first year and 10% in it  [#permalink]

Show Tags

New post 11 Apr 2016, 00:42
Bunuel wrote:
A baseball card decreased in value 20% in its first year and 10% in its second year. What was the total percent decrease of the card's value over the two years?

A. 28%
B. 30%
C. 32%
D. 36%
E. 72%


Method 1: Formula for successive percentage decrease/increase
If there is a decrease of a and b percent for 2 years, we can use
Total percentage decrease = - a - b + (ab/100)
The sign of a and b can change corresponding to an increase/decrease.
+ sign for increase and - sign for decrease.


Putting the values, total decrease = - 20 - 10 + 2 = -28
Or 28% decrease.
Option A

Method 2:
Assume the initial value = 100
Value after first decrease = 80
Value after second decrease = 72
Hence total decrease = 100 - 72 = 28%
Option A
Target Test Prep Representative
User avatar
G
Status: Head GMAT Instructor
Affiliations: Target Test Prep
Joined: 04 Mar 2011
Posts: 2823
Re: A baseball card decreased in value 20% in its first year and 10% in it  [#permalink]

Show Tags

New post 21 Mar 2018, 16:19
Bunuel wrote:
A baseball card decreased in value 20% in its first year and 10% in its second year. What was the total percent decrease of the card's value over the two years?

A. 28%
B. 30%
C. 32%
D. 36%
E. 72%


In two years the card is worth 0.8 x 0.9 = 0.72 = 72% of its original value, which is a 28% decrease from its original value.

Answer: A
_________________

Jeffrey Miller

Head of GMAT Instruction

Jeff@TargetTestPrep.com
TTP - Target Test Prep Logo
122 Reviews

5-star rated online GMAT quant
self study course

See why Target Test Prep is the top rated GMAT quant course on GMAT Club. Read Our Reviews

If you find one of my posts helpful, please take a moment to click on the "Kudos" button.

GMAT Club Bot
Re: A baseball card decreased in value 20% in its first year and 10% in it   [#permalink] 21 Mar 2018, 16:19
Display posts from previous: Sort by

A baseball card decreased in value 20% in its first year and 10% in it

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  


Copyright

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

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

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®.