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

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Senior Manager
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The price of the stock of the ACME corporation decreased by 20 percent  [#permalink]

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New post 01 Nov 2018, 08:18
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A
B
C
D
E

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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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Re: The price of the stock of the ACME corporation decreased by 20 percent  [#permalink]

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New post 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
GMAT Club Bot
Re: The price of the stock of the ACME corporation decreased by 20 percent   [#permalink] 01 Nov 2018, 08:26
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The price of the stock of the ACME corporation decreased by 20 percent

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