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# The price of the stock of the ACME corporation decreased by 20 percent

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Senior Manager
Status: No dream is too large, no dreamer is too small
Joined: 14 Jul 2010
Posts: 426
The price of the stock of the ACME corporation decreased by 20 percent  [#permalink]

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01 Nov 2018, 08:18
1
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Question Stats:

93% (01:22) correct 7% (00:55) wrong based on 31 sessions

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The price of the stock of the ACME corporation decreased by 20 percent on Day 1 and by 20 percent again on Day 2. If the price of the stock at the end of Day 2 was \$32, what was the price of the stock at the beginning of Day 1?
A. \$64
B. \$53
C. \$50
D. \$48
E. \$40

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Joined: 17 Mar 2018
Posts: 70
Re: The price of the stock of the ACME corporation decreased by 20 percent  [#permalink]

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01 Nov 2018, 08:26
1
at the end of Day1, price of stock is .80x
at the end of day 2, price of stock is .80 of price of stock at end of day 1, ie, .80x
.80*.80x=\$32
.64x=32
x= 32/.64= \$50
Ans= C
Re: The price of the stock of the ACME corporation decreased by 20 percent   [#permalink] 01 Nov 2018, 08:26
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