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

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

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12 Jun 2012, 02:17
00:00

Difficulty:

5% (low)

Question Stats:

96% (01:08) correct 4% (01:24) wrong based on 134 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%
Manager
Joined: 08 Apr 2012
Posts: 118
Re: The price of a certain painting increased by 20% during the first year  [#permalink]

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12 Jun 2012, 02:59
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%

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Shouvik
http://www.Edvento.com

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

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12 Jun 2012, 03:02
But to find % formula is difference by original *100

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

Pls suggest
Manager
Joined: 08 Apr 2012
Posts: 118
Re: The price of a certain painting increased by 20% during the first year  [#permalink]

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12 Jun 2012, 03:07
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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Shouvik
http://www.Edvento.com

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Joined: 09 May 2012
Posts: 364
GMAT 1: 620 Q42 V33
GMAT 2: 680 Q44 V38
GPA: 3.43
WE: Engineering (Entertainment and Sports)
Re: The price of a certain painting increased by 20% during the first year  [#permalink]

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13 Jun 2012, 01:05
This thread needs to be shifted to the Quant section
Manager
Joined: 20 Feb 2017
Posts: 164
Location: India
Concentration: Operations, Strategy
WE: Engineering (Other)
Re: The price of a certain painting increased by 20% during the first year  [#permalink]

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06 Dec 2017, 22:06
Apply successive percentage change
a+b+ab/100
=20-15-300/100
= 2%
so my answer is A i.e. 102%
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Re: The price of a certain painting increased by 20% during the first year &nbs [#permalink] 06 Dec 2017, 22:06
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