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# Market Value

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Manager
Joined: 08 Jul 2009
Posts: 172

Kudos [?]: 89 [0], given: 13

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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

Kudos [?]: 89 [0], given: 13

Senior Manager
Joined: 08 Jan 2009
Posts: 325

Kudos [?]: 176 [0], given: 5

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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\$

Kudos [?]: 176 [0], given: 5

Manager
Joined: 14 Apr 2008
Posts: 51

Kudos [?]: 1 [0], given: 0

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01 Aug 2009, 06:20
c
but question is not clear wheather to existing purchase price

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Intern
Status: Applying
Joined: 30 Jul 2009
Posts: 38

Kudos [?]: 4 [0], given: 3

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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.

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Manager
Joined: 13 Jan 2009
Posts: 170

Kudos [?]: 26 [0], given: 9

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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

Kudos [?]: 26 [0], given: 9

Re: Market Value   [#permalink] 03 Aug 2009, 22:51
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