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The value of a "Tin-Rin" stock in the stock market decreased by 15% in [#permalink]
Bunuel wrote:
The value of a "Tin-Rin" stock in the stock market decreased by 15% in the last two years. The economic experts believe that the value of the stock will increase by 7% during the following year, which will make the value $440. What was the approximate price of the stock two years ago?

A. $473.
B. $464.
C. $455.
D. $445.
E. $430.


i m getting 483 as answer...
no choice seems to be the same...
can anyone confirm please

-15+7-(15*7)/100=-9.05% net decrease
let initial price be X
X(1-9.05/100)=440
X=44000/90.95 = ~483
:roll:

Ans A seems closer
Bunuel please confirm

thanks
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Re: The value of a "Tin-Rin" stock in the stock market decreased by 15% in [#permalink]
mohshu wrote:
Bunuel wrote:
The value of a "Tin-Rin" stock in the stock market decreased by 15% in the last two years. The economic experts believe that the value of the stock will increase by 7% during the following year, which will make the value $440. What was the approximate price of the stock two years ago?

A. $473.
B. $464.
C. $455.
D. $445.
E. $430.


did the value of stock decrease 15% per year in last two years?

No its only one time decreased to 15% in lastt 2 years.
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Re: The value of a "Tin-Rin" stock in the stock market decreased by 15% in [#permalink]
Bunuel wrote:
The value of a "Tin-Rin" stock in the stock market decreased by 15% in the last two years. The economic experts believe that the value of the stock will increase by 7% during the following year, which will make the value $440. What was the approximate price of the stock two years ago?

A. $473.
B. $464.
C. $455.
D. $445.
E. $430.


i m getting 483 as answer...
no choice seems to be the same...
can anyone confirm please

-15+7-(15*7)/100=-9.05% net decrease
let initial price be X
X(1-9.05/100)=440
X=44000/90.95 = ~483
:roll:

Ans A seems closer
Bunuel please confirm

thanks

------------------------------------

Yes I agree. The answer should be of the form 48--. I guess if the question is correct, we will just have to go with the closest option.....
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Re: The value of a "Tin-Rin" stock in the stock market decreased by 15% in [#permalink]
rohit8865 wrote:
Bunuel wrote:
The value of a "Tin-Rin" stock in the stock market decreased by 15% in the last two years. The economic experts believe that the value of the stock will increase by 7% during the following year, which will make the value $440. What was the approximate price of the stock two years ago?

A. $473.
B. $464.
C. $455.
D. $445.
E. $430.


i m getting 483 as answer...
no choice seems to be the same...
can anyone confirm please

-15+7-(15*7)/100=-9.05% net decrease
let initial price be X
X(1-9.05/100)=440
X=44000/90.95 = ~483
:roll:

Ans A seems closer
Bunuel please confirm

thanks


You are getting the correct answer... The EXACT answer is 483.7822979659153 (done in the calculator)
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Re: The value of a "Tin-Rin" stock in the stock market decreased by 15% in [#permalink]
Okay....Since this involves calculation to a good extent ... any tips in general on fast calculations OR approximations?
May be taking this one as example how did you manipulate numbers to arrive at the final answer. {In shortest possible time}
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Re: The value of a "Tin-Rin" stock in the stock market decreased by 15% in [#permalink]
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Re: The value of a "Tin-Rin" stock in the stock market decreased by 15% in [#permalink]
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