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10 May 2017, 02:27
00:00

Difficulty:

15% (low)

Question Stats:

91% (00:47) correct 9% (00:34) wrong based on 50 sessions

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At the start of trading on a particular day the price of stock x is $7. If during the day the price falls to$6 by what percent does the price of the stock decrease?

A. 8%
B. 12.5%
C. 14.3%
D. 16.67%
E. 20%

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10 May 2017, 09:56
% decrease = (change/original) *100

(7-6)/7 = 14.28%

ans C
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11 May 2017, 06:30
1
Bunuel wrote:
At the start of trading on a particular day the price of stock x is $7. If during the day the price falls to$6 by what percent does the price of the stock decrease?

A. 8%
B. 12.5%
C. 14.3%
D. 16.67%
E. 20%

The price of the stock is $7, Price falls to$6
So loss = &1

Percentage by which price of the stock decreased = $1/$7 x 100 = 14.3%

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12 May 2017, 13:36
1
Bunuel wrote:
At the start of trading on a particular day the price of stock x is $7. If during the day the price falls to$6 by what percent does the price of the stock decrease?

A. 8%
B. 12.5%
C. 14.3%
D. 16.67%
E. 20%

We can create the following equation in which n = the percent decrease:

7(1 - n/100) = 6

7(100 - n)/100 = 6

700 - 7n = 600

7n = 100

n = 100/7 = 14.3%

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Re: At the start of trading on a particular day the price of stock x is $7 [#permalink] ### Show Tags 13 May 2017, 02:09 1 Percent decrease in the price of stock is given by following formula: = $$\frac{Change}{Initial Price}$$*100 Initial Price=$7
Final Price= $6 Change=$7-$6=$1
= $$\frac{1}{7}$$*100= 14.3%

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Re: At the start of trading on a particular day the price of stock x is $7 [#permalink] ### Show Tags 15 May 2017, 17:22 1 Bunuel wrote: At the start of trading on a particular day the price of stock x is$7. If during the day the price falls to $6 by what percent does the price of the stock decrease? A. 8% B. 12.5% C. 14.3% D. 16.67% E. 20% We can create the following equation in which n = the percentage decrease: 7(1 - n/100) = 6 7(100 - n)/100 = 6 700 - 7n = 600 7n = 100 n = 100/7 ≈ 14.3 Alternate Solution: Let’s use the percent change formula, which states: % change = [(Original Value – Final Value) / Original Value] x 100%. For this problem, the original value is 7 and the final value is 6. % change = [(6 – 7) / 7] x 100% % change = -1/7 x 100% % change = -0.143 x 100% % change = -14.3% The negative value indicates a percentage decrease, so we have an approximate 14.3% decrease in the price of the stock. Answer: C _________________ Jeffery Miller Head of GMAT Instruction GMAT Quant Self-Study Course 500+ lessons 3000+ practice problems 800+ HD solutions Re: At the start of trading on a particular day the price of stock x is$7 &nbs [#permalink] 15 May 2017, 17:22
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