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In 1991, the price of a house was 80% of its original price. In 1992,

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In 1991, the price of a house was 80% of its original price. In 1992,  [#permalink]

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New post 07 Nov 2018, 00:26
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A
B
C
D
E

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  5% (low)

Question Stats:

93% (00:58) correct 7% (01:27) wrong based on 43 sessions

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In 1991, the price of a house was 80% of its original price. In 1992,  [#permalink]

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New post 07 Nov 2018, 00:34
Bunuel wrote:
In 1991, the price of a house was 80% of its original price. In 1992, the price of the house was 60% of its original price. By what percent did the price of the house decrease from 1991 to 1992 ?

A. 20%
B. 25%
C. 33 1/3%
D. 40%
E. 60%


Let original price be p

In 1991 it is 0.8p
In 1992 it is 0.6p

Now our (old - new)/old = 0.8p - 0.6p = 0.2p/0.8p = 0.25 = 25%

Answer choice B

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Re: In 1991, the price of a house was 80% of its original price. In 1992,  [#permalink]

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New post 07 Nov 2018, 00:46
In 1991, the price of a house was 80% of its original price. In 1992, the price of the house was 60% of its original price. By what percent did the price of the house decrease from 1991 to 1992 ?

A. 20%
B. 25%
C. 33 1/3%
D. 40%
E. 60%

Let original price be 100$; so in 1991 price would be 80$ and 1992 60$, price decreased by (80-60)/80= 25% option B
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Re: In 1991, the price of a house was 80% of its original price. In 1992,  [#permalink]

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New post 15 Dec 2018, 19:20
Hi All,

We're told that in 1991, the price of a house was 80% of its original price and in 1992, the price of the house was 60% of its original price. We're asked by what percent the price of the house decreased from 1991 to 1992. This question can be solved in a couple of different ways, including by TESTing VALUES.

IF... the starting price = $100
Price in 1991 = (.8)($100) = $80
Price in 1992 = (.6)($100) = $60

Percent change in price from 1991 to 1992 = (60 - 80)/80 = -20/80 = -1/4 = -25% = a 25% decrease

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Re: In 1991, the price of a house was 80% of its original price. In 1992,  [#permalink]

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New post 27 Jan 2019, 19:40
Bunuel wrote:
In 1991, the price of a house was 80% of its original price. In 1992, the price of the house was 60% of its original price. By what percent did the price of the house decrease from 1991 to 1992 ?

A. 20%
B. 25%
C. 33 1/3%
D. 40%
E. 60%


If the original price is n, then in 1991, the price is 0.8n and in 1992 the price is 0.6n. The percent change is:

(0.6n - 0.8n)/0.8n x 100 = -2/8 x 100 = -25% (i.e., a 25% decrease)

Answer: B
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Re: In 1991, the price of a house was 80% of its original price. In 1992,   [#permalink] 27 Jan 2019, 19:40
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