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

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A baseball card decreased in value 20% in its first year and 10% in it [#permalink]

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New post 28 Mar 2016, 02:45
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A
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C
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E

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  15% (low)

Question Stats:

83% (00:23) correct 17% (00:32) wrong based on 70 sessions

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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%
[Reveal] Spoiler: OA

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Re: A baseball card decreased in value 20% in its first year and 10% in it [#permalink]

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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
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Re: A baseball card decreased in value 20% in its first year and 10% in it [#permalink]

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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
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Re: A baseball card decreased in value 20% in its first year and 10% in it [#permalink]

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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
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Re: A baseball card decreased in value 20% in its first year and 10% in it [#permalink]

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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
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Re: A baseball card decreased in value 20% in its first year and 10% in it   [#permalink] 21 Mar 2018, 16:19
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A baseball card decreased in value 20% in its first year and 10% in it

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