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

It is currently 21 Aug 2018, 06:53

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 motorcycle costs $2,500 when it is brand new. At the end of each yea

  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: 48096
A motorcycle costs $2,500 when it is brand new. At the end of each yea  [#permalink]

Show Tags

New post 05 Nov 2017, 01:54
00:00
A
B
C
D
E

Difficulty:

  5% (low)

Question Stats:

96% (00:46) correct 4% (01:26) wrong based on 69 sessions

HideShow timer Statistics

A motorcycle costs $2,500 when it is brand new. At the end of each year it is worth 80 percent of what it was worth at the beginning of the year. What is the motorcycle worth when it is 3 years old?

(A) $1,000
(B) $1,200
(C) $1,280
(D) $1,340
(E) $1,430

_________________

New to the Math Forum?
Please read this: Ultimate GMAT Quantitative Megathread | All You Need for Quant | PLEASE READ AND FOLLOW: 12 Rules for Posting!!!

Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
Extra-hard Quant Tests with Brilliant Analytics

BSchool Forum Moderator
User avatar
V
Joined: 26 Feb 2016
Posts: 3059
Location: India
GPA: 3.12
Premium Member CAT Tests
Re: A motorcycle costs $2,500 when it is brand new. At the end of each yea  [#permalink]

Show Tags

New post 05 Nov 2017, 02:05
Bunuel wrote:
A motorcycle costs $2,500 when it is brand new. At the end of each year it is worth 80 percent of what it was worth at the beginning of the year. What is the motorcycle worth when it is 3 years old?

(A) $1,000
(B) $1,200
(C) $1,280
(D) $1,340
(E) $1,430


After three years the motor cycle is worth \((0.8)^3*x\), if the present price of the motor cycle is x

Since the current price of the motor cycle is 2500$, the price after 3 years is \(0.512*2500 = 1280\)$(Option C)
_________________

You've got what it takes, but it will take everything you've got

SC Moderator
avatar
V
Joined: 22 May 2016
Posts: 1914
Premium Member CAT Tests
A motorcycle costs $2,500 when it is brand new. At the end of each yea  [#permalink]

Show Tags

New post 05 Nov 2017, 13:39
Bunuel wrote:
A motorcycle costs $2,500 when it is brand new. At the end of each year it is worth 80 percent of what it was worth at the beginning of the year. What is the motorcycle worth when it is 3 years old?

(A) $1,000
(B) $1,200
(C) $1,280
(D) $1,340
(E) $1,430

A brand new motorcycle is worth $2,500.

At the end of each year, it is worth 80% of its value from the beginning of that year -- in other words, it loses 20% of its value from the beginning of the year.

Calculating the multiplier (.8)\(^3\), then multiplying that by $2,500 seemed more labor-intensive than just subtracting 20 percent from each year's value. Your mileage may vary.

Year 1: loses 20 percent of $2,500
10% = $250, so 20% = $500
End of year 1: ($2,500 - 500) = $2000

Year 2: loses 20 percent of $2,000
10% = $200, so 20% = $400
End of year 2: ($2,000 - 400) = $1,600

Year 3: loses 20 percent of $1,600
10% = $160, so 20% = $320
End of year 3: ($1,600 - 320) = $1,280

Answer C
_________________

In the depths of winter, I finally learned
that within me there lay an invincible summer.

-- Albert Camus, "Return to Tipasa"

Intern
Intern
avatar
B
Joined: 05 Dec 2016
Posts: 6
Re: A motorcycle costs $2,500 when it is brand new. At the end of each yea  [#permalink]

Show Tags

New post 06 Nov 2017, 20:07
easy calculation

2500 x 4^3/5^3

= $1280
Target Test Prep Representative
User avatar
G
Status: Head GMAT Instructor
Affiliations: Target Test Prep
Joined: 04 Mar 2011
Posts: 2781
Re: A motorcycle costs $2,500 when it is brand new. At the end of each yea  [#permalink]

Show Tags

New post 08 Nov 2017, 17:33
Bunuel wrote:
A motorcycle costs $2,500 when it is brand new. At the end of each year it is worth 80 percent of what it was worth at the beginning of the year. What is the motorcycle worth when it is 3 years old?

(A) $1,000
(B) $1,200
(C) $1,280
(D) $1,340
(E) $1,430



Noting that 80% = 0.80 = ⅘, we see that after 3 years, the motorcycle is worth:

2,500 x 4/5 x 4/5 x 4/5 = 2,500 x 64/125 = 20 x 64 = $1,280

Answer: C
_________________

Jeffery Miller
Head of GMAT Instruction

GMAT Quant Self-Study Course
500+ lessons 3000+ practice problems 800+ HD solutions

Re: A motorcycle costs $2,500 when it is brand new. At the end of each yea &nbs [#permalink] 08 Nov 2017, 17:33
Display posts from previous: Sort by

A motorcycle costs $2,500 when it is brand new. At the end of each yea

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

Events & Promotions

PREV
NEXT


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®.