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# During a two-month period, the price of a barrel of oil increased by

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Math Expert
Joined: 02 Sep 2009
Posts: 46251
During a two-month period, the price of a barrel of oil increased by [#permalink]

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12 May 2017, 05:02
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During a two-month period, the price of a barrel of oil increased by 15 percent by the end of the first month and then decreased by 10 percent by the end of the second month. If the price of oil was p dollars per barrel at the beginning of the two-month period, what was the price, in dollars per barrel, by the end of the period?

A. 1.5p
B. 1.05p
C. 1.035p
D. p
E. 0.95p

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Re: During a two-month period, the price of a barrel of oil increased by [#permalink]

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12 May 2017, 05:44
Set the price per barrel at $100. A 15% increase would set the barrel price at$115. The 10% decrease would set the barrel price at \$103.50. P=100, going through the answer choices, answer choice "C" will equal the barrel price at the end of two months.
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Re: During a two-month period, the price of a barrel of oil increased by [#permalink]

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14 May 2017, 05:51
(23/20)(9/10)p=1.035p
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Joined: 04 Dec 2015
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Concentration: Technology, Strategy
Schools: ISB '19, IIMA , IIMB, XLRI
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Re: During a two-month period, the price of a barrel of oil increased by [#permalink]

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15 May 2017, 03:34
During a two-month period, the price of a barrel of oil increased by 15 percent by the end of the first month and then decreased by 10 percent by the end of the second month. If the price of oil was p dollars per barrel at the beginning of the two-month period, what was the price, in dollars per barrel, by the end of the period?

Price of the barrel at the beginning of 2 month period = p
Price of barrel increased by 15 % by end of first month = 115% of p = $$\frac{115}{100}$$ x p = 1.15p
Price of barrel decreased by 10% by end of second month = 90% of 1.15p = $$\frac{90}{100}$$ x 1.15p = .9 x 1.15p = 1.035p
Therefore price of barrel at the end of period = 1.035p ...... Answer C ....

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Re: During a two-month period, the price of a barrel of oil increased by [#permalink]

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15 May 2017, 12:44
p x 1.15 x 0.9 = 1.035p
Re: During a two-month period, the price of a barrel of oil increased by   [#permalink] 15 May 2017, 12:44
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