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

 It is currently 23 May 2019, 10:10

### 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

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

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

Author Message
TAGS:

### Hide Tags

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

### Show Tags

28 Mar 2016, 02:45
00:00

Difficulty:

15% (low)

Question Stats:

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

### HideShow timer Statistics

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%

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

### Show Tags

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%
_________________
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
Joined: 24 Nov 2015
Posts: 497
Location: United States (LA)
Re: A baseball card decreased in value 20% in its first year and 10% in it  [#permalink]

### Show Tags

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%
Senior Manager
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

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
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

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.

_________________

# Jeffrey Miller

Jeff@TargetTestPrep.com
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.

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