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# Market Value

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Manager
Joined: 08 Jul 2009
Posts: 164

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31 Jul 2009, 19:50
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The market value of a certain machine decreased by 30 percent of its purchase price each year. If the machine was purchased in 1982 for its market value of \$8,000, what was its market value two years later?
(A) \$8,000
(B) \$5,600
(C) \$3,200
(D) \$2,400
(E) \$800
Senior Manager
Joined: 08 Jan 2009
Posts: 317
Re: Market Value [#permalink]

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31 Jul 2009, 20:18
I will go with C.

The market value of a certain machine decreased by 30 percent of its purchase price each year.

So in 1992, purchase price = market value = 8000\$
30 % * P.P = 2400

decersed amount = 80000 - ( 2400 *2 ) = 3200\$
Manager
Joined: 14 Apr 2008
Posts: 50
Re: Market Value [#permalink]

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01 Aug 2009, 06:20
c
but question is not clear wheather to existing purchase price
Intern
Status: Applying
Joined: 30 Jul 2009
Posts: 25
Re: Market Value [#permalink]

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01 Aug 2009, 14:09
[EDIT - REMOVED BY USER]

Last edited by nplaneta on 17 Jun 2012, 17:41, edited 1 time in total.
Manager
Joined: 13 Jan 2009
Posts: 168
Schools: Harvard Business School, Stanford
Re: Market Value [#permalink]

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03 Aug 2009, 22:51
The question is not clear.
Quote:
decreased by 30 percent of its purchase price each year
?????

1) 8000-30%=5600 First year.
2) 5600-30%=3920 Second year. No such answer!

or

1)8000*30%=2400
2)8000-(2400*2)=3200 Then answer is C.
Re: Market Value   [#permalink] 03 Aug 2009, 22:51
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# Market Value

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