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A certain car's price decreased by 2.5% (from the original price) each
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21 Jun 2016, 02:06
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A certain car's price decreased by 2.5% (from the original price) each year from 1996 to 2002, during that time the owner of the car invested in a new carburetor and a new audio system for the car, which increased car's price by $1,500. If the price of the car in 1996 was $22,000, what is the car's price in 2002? A. $18,400 B. $19,500 C. $20,200 D. $20,400 E. $21,100
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Re: A certain car's price decreased by 2.5% (from the original price) each
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21 Jun 2016, 03:50
1996 to 2002 = 6 years in one year depreciation is 2.5% (note from original price) which is $550 in 6 years total depreciation = 550*6 =$3300 increase in car price = $1500 car price in 2002 = 22000+15003300= $20200



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Re: A certain car's price decreased by 2.5% (from the original price) each
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21 Jun 2016, 08:34
Bunuel wrote: A certain car's price decreased by 2.5% (from the original price) each year from 1996 to 2002, during that time the owner of the car invested in a new carburetor and a new audio system for the car, which increased car's price by $1,500. If the price of the car in 1996 was $22,000, what is the car's price in 2002?
A. $18,400 B. $19,500 C. $20,200 D. $20,400 E. $21,100 Important point to notice 2.5% decrease from the original price 2.5% of 22,000= 550 Total reduction in 6 years= 550*6= 3300 Final price= 22,000 +1500  3300= 20,200 C is the answer
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Re: A certain car's price decreased by 2.5% (from the original price) each
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22 Jun 2016, 02:19
Bunuel wrote: A certain car's price decreased by 2.5% (from the original price) each year from 1996 to 2002, during that time the owner of the car invested in a new carburetor and a new audio system for the car, which increased car's price by $1,500. If the price of the car in 1996 was $22,000, what is the car's price in 2002?
A. $18,400 B. $19,500 C. $20,200 D. $20,400 E. $21,100 Price in 96 = 22000 Price decrease each year = 2.5/100*22000 = 550 Price in 97 = 22000  550 Price in 98 = 22000  2*550 Price in 99 = 22000  3*550 Price in 00 = 22000  4*550 Price in 01 = 22000  5*550 Price in 02 = 22000  6*550 = 18700 Investment in the car = 1500 Net price of the car in 02 = 18700 + 1500 = $20200 Correct Option: C



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Re: A certain car's price decreased by 2.5% (from the original price) each
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22 Jun 2016, 03:26
Bunuel wrote: A certain car's price decreased by 2.5% (from the original price) each year from 1996 to 2002, during that time the owner of the car invested in a new carburetor and a new audio system for the car, which increased car's price by $1,500. If the price of the car in 1996 was $22,000, what is the car's price in 2002?
A. $18,400 B. $19,500 C. $20,200 D. $20,400 E. $21,100 Reduction: 2.5 % from original price (2.5/100) * 22000 = 550. 6 * 550 = Rs. 3300 reduction. Increase: Rs, 1500 Final price: 22000  3300 + 1500 = 22000  1800 = 20200. C is the answer.



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A certain car's price decreased by 2.5% (from the original price) each
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12 Aug 2016, 15:57
Unless i am not reading the question properly, it is not mentioned that we have to use simple interest AND NOT COMPOUND interest. Am i overthinking? I did following: Final Price = P(1r/100)^t = 22000(125/1000)^7 = 22000(11/40)^7 = 22000 (1  7/40) Binomial shortcut = 22000*33/40 = 550*33 = 11*50*3*11 = 121*150 = 18150 Adding cost to final price = 18150+1500 = 19650 => thus B So in exam, like here (SC  focusing on similarity ), if it is not mentioned SI or CI we should use SI?



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Re: A certain car's price decreased by 2.5% (from the original price) each
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01 Oct 2016, 07:33
A certain car's price decreased by 2.5% (from the original price) each year from 1996 to 2002, during that time the owner of the car invested in a new carburetor and a new audio system for the car, which increased car's price by $1,500. If the price of the car in 1996 was $22,000, what is the car's price in 2002?
A. $18,400 B. $19,500 C. $20,200 D. $20,400 E. $21,100  Number of years from 1996 to 2002 = 6 Price of the car in 1996 = $22,000 Price decreased each year by 2.5%
We know that the price decreased 6 times @ 2.5% each year as the number of years from 1996 to 2002 is 6 Therefore, in place of going for lengthy and complicated calculation just multiply 2.5 with 6  2.5 * 6 = 15 Now, calculate 15% of $22,000 15/100 * 22,000 = $3300 Price of the car after decreasing the price for continuous 6 years @ 2.5% = Price of Car in year 1996 (Initial Price)  Price decreased in 6 years = $22,000  $3300 = $18700
It is mentioned that the car's price increased by $1,500 with the investment in a new carburetor and a new audio system for the car therefore, the final price of the car in year 2002 is  = $18,700 + 1,500 = $20,200
Answer is 'C'



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Re: A certain car's price decreased by 2.5% (from the original price) each
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07 Sep 2018, 05:36
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