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The price of a certain painting increased by 20% during the first year

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Joined: 01 May 2012
Posts: 15
The price of a certain painting increased by 20% during the first year [#permalink]

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New post 12 Jun 2012, 03:17
00:00
A
B
C
D
E

Difficulty:

  5% (low)

Question Stats:

96% (00:32) correct 4% (00:27) wrong based on 114 sessions

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The price of a certain painting increased by 20% during the first year and decreased by 15% during the second year. The price of the painting at the end of the 2-year period was what percent of the original price?

A. 102%
B. 105%
C. 120%
D. 135%
E. 140%
[Reveal] Spoiler: OA
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Posts: 125
Re: The price of a certain painting increased by 20% during the first year [#permalink]

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New post 12 Jun 2012, 03:59
anshulece11 wrote:
The price of a certain painting increased by 20% during the first year and decreased by 15% during the
second year. The price of the painting at the end of the 2-year period was what percent of the original price?

102% 105% 120% 135% 140%


Easiest thing to do: Assume that price is 100

Price at the end of yr 1: 100+ 20 = 120

Price at the end of year 2 = 120 - 120*0.15 = 120*0.85 = 102

Hence required answer = (102/100)*100% = 102%

Answer is A.
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Re: The price of a certain painting increased by 20% during the first year [#permalink]

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New post 12 Jun 2012, 04:02
But to find % formula is difference by original *100

so it should be like (102-100/100)*100


Pls suggest
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Re: The price of a certain painting increased by 20% during the first year [#permalink]

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New post 12 Jun 2012, 04:07
anshulece11 wrote:
But to find % formula is difference by original *100

so it should be like (102-100/100)*100


Pls suggest


Hi

See, in short the question asks: "What % of 100 is 102"?

If it were, "What is the % change from 100 to 102", then your answer would suffice.

Regards,

Shouvik.
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Re: The price of a certain painting increased by 20% during the first year [#permalink]

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New post 13 Jun 2012, 02:05
This thread needs to be shifted to the Quant section
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Re: The price of a certain painting increased by 20% during the first year [#permalink]

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New post 06 Dec 2017, 23:06
Apply successive percentage change
a+b+ab/100
=20-15-300/100
= 2%
so my answer is A i.e. 102%
Re: The price of a certain painting increased by 20% during the first year   [#permalink] 06 Dec 2017, 23:06
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The price of a certain painting increased by 20% during the first year

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