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22 Feb 2018, 20:53
Kudos
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E
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
45%
(medium)
Question Stats:
64% (01:59) correct
36%
(01:53)
wrong
based on 112
sessions
History
Date
Time
Result
Not Attempted Yet
The price of a left-handed widget increased 20 percent in 1981 and 10 percent in 1982. By approximately what percent would the price at the end of 1982 have to be decreased to restore the price of the widget to its pre-1981 price?
(A) 40%
(B) 35%
(C) 30%
(D) 26%
(E) 24%
(A) 40%
(B) 35%
(C) 30%
(D) 26%
(E) 24%
22 Feb 2018, 21:50
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Bunuel
The price of a left-handed widget increased 20 percent in 1981 and 10 percent in 1982. By approximately what percent would the price at the end of 1982 have to be decreased to restore the price of the widget to its pre-1981 price?
(A) 40%
(B) 35%
(C) 30%
(D) 26%
(E) 24%
(A) 40%
(B) 35%
(C) 30%
(D) 26%
(E) 24%
Assume the price of the left-handed widget to be $100 before 1981.
In 1981 the price went up by 20% and the price went up by 20% in 1982
The cost of the left-handed widget in 1982 is 1.1*(1.2(100)) = $132
In order to restore the price to its pre-1981 price, we would need to
bring down the cost of $32, which is a decrease of \(\frac{32}{132}*100 = \frac{3200}{132} = 24\)%(Option E)
23 Feb 2018, 02:09
Kudos
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Bunuel
The price of a left-handed widget increased 20 percent in 1981 and 10 percent in 1982. By approximately what percent would the price at the end of 1982 have to be decreased to restore the price of the widget to its pre-1981 price?
(A) 40%
(B) 35%
(C) 30%
(D) 26%
(E) 24%
(A) 40%
(B) 35%
(C) 30%
(D) 26%
(E) 24%
100 - 120 - 132
now 132 must decrease to 100 = 32/132 x 100 = 24%
(E) imo
