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17 Feb 2023, 01:32
Kudos
Bookmarks
C
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
65%
(hard)
Question Stats:
65% (02:40) correct
35%
(02:57)
wrong
based on 328
sessions
History
Date
Time
Result
Not Attempted Yet
An investor bought an asset on December 31st, 2010, and held it for five years. The value of the asset increased by 20% in the first year, decreased by 25% in the second year, increased \(16 \frac{2}{3}\)% in the third year, decreased by \(11 \frac{1}{9}\)% in the fourth year, and increased by \(33 \frac{1}{3}\)% in the fifth year. On which of the following dates was the price of the asset close to tis original price?
A. Dec 31st 2011
B. Dec 31st 2012
C. Dec 31st 2013
D. Dec 31st 2014
E. Dec 31st 2015
A. Dec 31st 2011
B. Dec 31st 2012
C. Dec 31st 2013
D. Dec 31st 2014
E. Dec 31st 2015
20 Feb 2023, 10:04
Kudos
Bookmarks
Hi all,
quick remark on this question - shouldn't the correct answer be (B)?
Reasoning:
t = 0 (Dec 31st 2010): 100
t = 1, +25% (Dec 31st 2011): 125
t = 2, -20% (Dec 31st 2012): 100
quick remark on this question - shouldn't the correct answer be (B)?
Reasoning:
t = 0 (Dec 31st 2010): 100
t = 1, +25% (Dec 31st 2011): 125
t = 2, -20% (Dec 31st 2012): 100
24 Feb 2023, 00:39
Kudos
Bookmarks
Bunuel
2010 Let it be \(100\)
2011 it becomes \(120\)
2012 it becomes \(90\)
2013 it becomes \(105\)
2014 it becomes \(93 \frac{1}{3}\)
2015 it becomes \(\approx 113\)
As we can see in 2013 it was closest to its original value.
Ans C
Hope it's clear.
