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02 Aug 2023, 01:30
Kudos
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D
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
25%
(medium)
Question Stats:
78% (01:55) correct
22%
(02:00)
wrong
based on 301
sessions
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Not Attempted Yet
The price of a certain property increased by 10% in the first year, decreased by 20% in the second year, and increased by 25% in the third year. What was the amount of the dollar decrease in the property price during the second year?
(1) The price of the property at the end of the third year was $22,000.
(2) The decrease in the property price over the first two years was $2,000 less than the increase in the property price during the third year.
(1) The price of the property at the end of the third year was $22,000.
(2) The decrease in the property price over the first two years was $2,000 less than the increase in the property price during the third year.
04 Aug 2023, 05:37
Kudos
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Bunuel
If the property's price initially is \(x\) then it is given that:
After three years the price becomes = \((1.25)*(.8)*(1.1x)\)
(1) The price of the property at the end of the third year was $22,000.
\((1.25)*(.8)*(1.1x) = 22,000\)
Clearly we can find \(x \)
Then calculate decrease in second year as \((.2)*(1.1x)\)
SUFF.
(2) The decrease in the property price over the first two years was $2,000 less than the increase in the property price during the third year.
\((.25)*(.8)*(1.1x)- (.2)*(1.1x) = 2000\)
Again we can get the value of \(x\) from above and calculate \(= (.2)*(1.1x) \)
SUFF.
Ans D
Hope it's clear.
15 May 2024, 23:19
Kudos
Bookmarks
[quote=
(2) The decrease in the property price over the first two years was $2,000 less than the increase in the property price during the third year.
\((.25)*(.8)*(1.1x)- (.2)*(1.1x) = 2000\)
Again we can get the value of \(x\) from above and calculate \(= (.2)*(1.1x) \)
SUFF.
Why it is 0.25 instead of 1.25? As it is an increase, it should be (1.25).
(2) The decrease in the property price over the first two years was $2,000 less than the increase in the property price during the third year.
\((.25)*(.8)*(1.1x)- (.2)*(1.1x) = 2000\)
Again we can get the value of \(x\) from above and calculate \(= (.2)*(1.1x) \)
SUFF.
Why it is 0.25 instead of 1.25? As it is an increase, it should be (1.25).
